Home » News » Vodafone's CEO reveals company-simplifying plans that will result in the elimination of 11,000 jobs

Vodafone's CEO reveals company-simplifying plans that will result in the elimination of 11,000 jobs

(Image Credit Google)
(Image credit- Business Outreach Magzine) Margherita Della Valle, Vodafone's new CEO, recently revealed plans to implement some big reforms. According to the reports, the corporation plans to eliminate 11,000 positions over the next three years in an effort to reclaim its competitive edge in the market. It is anticipated that this change will make Vodafone's corporate structure simpler.

Which Vodafone Markets are under threat?

The company's largest markets, particularly the underperforming Germany, are in Della Valle's sights. She is considering a structural change in Spain, such as a full or partial sale, in addition to employment losses. With plans to expand the job losses throughout its markets across Europe and Africa, Vodafone has already begun cutting staff in Germany and Italy. [caption id="" align="aligncenter" width="1280"]Vodafone plans 11,000 job cuts in the UK and worldwide | CNN Business Image credit- CNN Business[/caption]

Recent Vodafone Changes

However, Vodafone has taken other steps to strengthen its position in the market in addition to job layoffs. The Financial Times was the first to disclose that the business was in discussions with Three UK's parent company, CK Hutchinson, over a combination that would make Vodafone the largest mobile provider in the world. The boost Vodafone needs to compete with other key companies in the market may come from this proposed merger. Also read: Vodafone Launches a Super-Powered Private 5G Network for Your Business Another significant move by Vodafone is its recent plan to turn off its 3G service in some areas of the UK this year, becoming the first mobile phone network in the country to do so. This will allow the business to concentrate on more sophisticated technologies, like 5G, which are anticipated to shape mobile communications in the future. The reports claim that despite the potential advantages of these reforms, Vodafone's stock prices have already fallen. Shares of the company dropped to their lowest point since early January, a sign of the concern surrounding its future. [caption id="" align="aligncenter" width="3840"]Vodafone Layoffs: Vodafone to slash 11,000 jobs over next 3 yrs in new CEO's  turnaround plan Image credit- Business Standard[/caption]

Putting Growth and Simplicity First

The CEO of Vodafone is focused on putting customers, ease of use, and expansion first. She is determined to reduce complexity in order to recover competitiveness since she genuinely thinks that change is required for the organization to regularly deliver. She intends to improve Vodafone's performance by utilizing the potential of business clients and emphasizing the fundamentals, such as customer service, for consumers. Della Valle claims that the European telecoms market has not provided a good return on the money spent on networks. Additionally, Vodafone's relative performance has been worse as a result of rivals and activist investors criticizing the business for being cumbersome and sluggish to adapt to market developments.

Continued from Vodafone

It's interesting to note that Etisalat, a telecom company based in the United Arab Emirates, has purchased a 14.6% share in Vodafone, according to Reuters. Additionally, Xavier Niel, a millionaire in the French telecom industry, who competes with Vodafone in Italy, and Liberty Global, a partner of Vodafone in the Netherlands, have both made investments. Analysts believe that all three are putting themselves in a position to take advantage of any future sale of Vodafone's business. Della Valle has stated that Vodafone will continue to pay its dividend notwithstanding this.  

By Raulf Hernes

If you ask me raulf means ALL ABOUT TECH!!


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