Vodafone will lay off 11,000 people in three years to “restore competitiveness”

Unfortunately, news of layoffs in the tech world by some of the most important companies in the sector has been going on. Recently, Vodafone also reported that it will lay off about 11,000 workers, and this decision is part of the British company’s restructuring strategy and plan.

Vodafone will lay off 11,000 workers over the next three years

According to recent information, Vodafone Telecom Group announced on Tuesday (17) that it will lay off 11,000 of its workers over the next three years. This strategy is part of the company’s restructuring plan. The current CEO of the brand, Margherita Della, considered the performance “Not good enough“.

According to the executive branch announce In a statement, this plan aims to “Streamlining the organization to regain its competitivenessIt was also announced that the financial results for the period 2022/2023 show a stagnation in revenues of about 45.7 billion euros.

Former Vodafone CEO Nick Read stepped down from his leadership role in December last year, citing poor earnings performance. Margherita Della then took over as interim president and was appointed CEO last April.

This is considered one of the largest waves of layoffs in the history of the famous telecom company. However, at the moment it is not yet known how many Vodafone employees in Portugal will be affected by this decision, given that it employs about 1,400 workers in our country.

The London-based brand follows in the footsteps of many big names in the tech world, such as Microsoft, Intel, IBM, Google, Amazon, and many more.