Vodafone raises profit target after cutting 3,000 European jobs
Vodafone has raised its profit target after wielding the axe on thousands of roles across Europe in the first half of the year. The telecommunications giant said it had cut 3,000 roles in the region between April and September 2026, helping drive savings of €200m (£167m). The FTSE 100 group also confirmed it would cut [...]
Vodafone has hiked its profit forecast following the elimination of 3,000 positions across Europe in the first half of the year. The telecommunications titan reported a €3.6bn statutory net loss, primarily due to a substantial impairment in Germany, driven by government bond yields and reduced cash flows, as well as the loss of UK deferred tax assets.
However, Vodafone's revenue surged by 11.4% to €21.9bn, thanks to the consolidation of Safaricom, Vodafone Three, and Telekom Romania. The firm also upgraded its cost-saving target to £1bn annually by 2032, just two months after completing a £4.3bn acquisition of CK Hutchison's 49% stake in the UK's largest mobile operator, securing full control.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
