Vodafone plans to cut 11K jobs over next 3 years

Margherita Della Valle, CEO of Vodafone Group announced the company’s plans for cutting 11,000 jobs over the period of three years to simplify the telecoms group and regain its competitive edge, Reuters reported on Tuesday.

“We will simplify our organisation, cutting out complexity to regain our competitiveness,” Della Valle stated, according to Reuters.

Planned layoffs come at a time of earnings decline for the telecom group. Analysts expected Vodafone would generate around €3.6 billion ($3.9 billion) earnings this financial year.

The firm, however, estimates its earnings to range around €3.3 billion ($3.5 billion). Vodafone has previously cut 1,000 jobs in Italy earlier this March.

This announced job cuts, however, constitutes the biggest layoff in the history of the company which employs around 100,000 people.