Business

Vodafone’s New Boss To Lay Off 11,000 Employees

Vodafone is gearing up to join the ranks of several companies that have laid off their employees. The new boss of the telecom service provider, Margherita Della Valle said on Tuesday that she will cut over 11,000 jobs over the course of three years in order to streamline the telecoms group and reclaim its competitive edge as it anticipated a 1.5 billion euro decline in free cash flow this year.

One of the most well-known corporate brands in Britain, Vodafone employs about 100,000 people throughout Europe and Africa and the job cuts are going to be the largest in the company’s history.

Della Valle was permanently appointed as the CEO of Vodafone last month. ’Our performance has not been good enough,” she said. The new CEO further added that her priorities are “customers, simplicity and growth.”

Speaking of, the company dropped to its lowest level in the stock market since January. Vodafone opened 4.5% lower, which was the biggest faller for the company in FTSE 100. According to Matt Britzman, equity analyst at Hargreaves Lansdow, people have been expecting lacklustre performance from Vodafone of late. He also said that the full-year results also did not break the trajectory.

Vodafone announced that it would generate 3.3 billion euros ($3.6 billion) in cash this fiscal year, down from 4.8 billion euros in the year to the end of March 2023, underscoring the pressures on the business. Analyst predictions called for 3.6 billion euros.

Pressures in Germany and higher energy prices caused Vodafone’s group core earnings for the year to end-March to decline by 1.3% to 14.7 billion euros, falling short of its own forecast. According to Vodafone, the European telecoms market has historically provided a poor return on the money spent on networks, and over time, its relative performance has gotten worse.

Rivals and activist investors have also criticised the British group for being cumbersome and slow to adapt to market changes.

Malika Sahni

Recent Posts

Punjab’s Litchis Reach Middle East Markets In Boost To India’s Fruit Exports

In a step towards diversifying India’s horticultural exports, Punjab has successfully shipped its first consignment…

7 mins ago

Dalal Street Sees Strong Activity Of IPOs In June As Market Sentiment Improves

India’s primary market experienced a surge in activity in June 2025 as investor sentiment toward…

46 mins ago

ITC’s Non-Cigarette FMCG Business Sees ₹34,000 Crore Consumer Spend In FY25

Consumers spent over ₹34,000 crore on ITC’s non-cigarette fast-moving consumer goods (FMCG) products in the…

1 hour ago

Montana Delegation Praises ‘Magical’ Experience During Study Visit To India

A ten-member delegation from the US state of Montana, comprising seven high school students and…

1 hour ago

India Poised To Outpace G7 Peers, Says PHDCCI Study On G7‑India Collaboration

India will continue to expand faster than any G7 economy over the rest of this…

2 hours ago

Morgan Stanley Maintains Bullish Outlook On Indian Equities For Q3 FY26

Global brokerage firm Morgan Stanley has expressed continued optimism about Indian equity markets heading into…

2 hours ago