Vodafone plans hundreds of job cuts, biggest in 5 years: Report - New Delhi News
by IANS | Updated Jan 14, 2023

The Financial Times reported that this will be the company's "biggest round of job cuts in five years".
Vodafone employs about 104,000 people globally and 9,400 people in the UK.
In November last year, the company said it will cut 1 billion euros ($1.08 billion) of costs by 2026.
Its CEO Nick Read stepped down at 2022 end, replaced by chief financial officer Margherita Della Valle for an interim period.
Read stepped down as Group Chief Executive and as a Director of Vodafone on December 31, following which he will be available as an adviser to the Board until March 31, 2023.
He had said that cost savings measures would "be achieved through streamlining and simplification of the group".
In a statement, Vodafone said it was reviewing its operating model, focusing on streamlining and simplifying the group.
"We will say more about the changes when we announce our third-quarter results on February 1," said the company.
Earlier this week, the company agreed to sell its business in Hungary to a local IT company called 4iG and the Hungarian state for $1.82 billion.
Related Articles
- Centre asks Vodafone Idea to convert Rs 16,000 dues into equity
- J&K sanctions Rs 62 cr project for commercial cultivation of herbal riches
- Paytm Founder announces operating profitability, says free cash flow generation is next
- Over 20K foreign buyers from 28 countries invited to inaugural Rajasthan Int’l Expo
- Budget allocated Rs 10K cr for railway sector in Odisha: Vaishnaw
- Amid Adani group row, RBI says banking sector remains resilient
- S&P Global revises Adani Electricity, Adani Ports ratings to 'negative'
- DGCA orders probe as Indigo passenger reaches Udaipur instead of Patna
- ITC logs Q3 PAT of Rs 5,031 crore, declares interim dividend of Rs 6
- Punjab imposes 90 paise per litre cess on petrol, diesel