Vodafone says 3,000 job cuts are ‘first leg’ of shake-up – but UK largely spared
Vodafone’s 3,000 job cuts are only the “first leg” of a fresh restructuring drive, its chief executive has confirmed, although its UK workforce is expected to be largely spared further redundancies following the merger with Three. Margherita Della Valle said on Tuesday that the latest cuts, made between April and September, were separate from the [...]
Vodafone announced 3,000 job cuts in April to September, describing them as the initial phase of a broader restructuring plan, according to its CEO Margherita Della Valle. These layoffs are separate from the 11,000 redundancies announced last year, which have already been completed. Della Valle stated that the cuts were not a significant factor in the synergies expected from the £16.5bn merger with Three, with most redundancies focused on overlapping roles, particularly at head-office level.
The company aims to save €2bn (£1.7bn) by 2030, having already achieved over €200m in cost savings during the first half of the year. Vodafone's revenue in the UK grew by 10.2% to €4.9bn in the same period, with the integration of Three contributing to the positive outlook. Della Valle also supported the government's intervention in the rescue of broadband provider Talktalk, emphasizing the urgency given the circumstances and the need to protect customers.
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