New Vodafone boss takes aim at costs with 11,000 global job cuts
![]() 6375 Tuesday, 16 May, 2023, 20:18 New Vodafone (VOD.L) boss Margherita Della Valle said she would cut 11,000 jobs globally over three years to help the telecoms group regain its competitive edge after it warned that a poor performance in its biggest market Germany would hit cash flow. Shares in Vodafone, which has underperformed rivals in its major European markets, fell to their lowest level since 2002, and were trading down 9% by mid-afternoon. The job cuts are the biggest in the history of Vodafone, which employs 90,000 people directly across Europe and Africa. Della Valle was tasked with turning Vodafone around when she permanently took on the top job from the role of CFO last month. Three major shareholders could all benefit from a break up of the group. "To consistently deliver, Vodafone must change," she said. "My priorities are customers, simplicity and growth." |
Elon Musk just lost his title as world’s richest person
385Yesterday, 19:36Treasury secretary says U.S. and European Union must partner to 'collapse' Russian economy
91807.09.2025, 23:46India’s Russian oil gains wiped out by Trump’s tariffs: #Reuters
126928.08.2025, 21:00India’s Russian oil gains wiped out by Trump’s tariffs
119727.08.2025, 20:24"If Putin doesn't stop the war, we'll start an economic war" - Trump
112827.08.2025, 13:18US imposes 50% tariffs on India for buying Russian oil
106927.08.2025, 13:00Russia to implement project on navigation seals with Armenia
108326.08.2025, 17:30#FarsNews։ "Russia will supply gas to Iran through the territory of Azerbaijan"
120125.08.2025, 09:24