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WorldEuropeFor this reason, Vodafone announces the loss of 11,000 jobs over 3 years

For this reason, Vodafone announces the loss of 11,000 jobs over 3 years

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She stressed that she wanted to “simplify the business to restore its ability to be competitive”.

His words came in a statement on the results for the 2022-2023 fiscal year, which showed revenue stagnating at 45.7 billion euros ($49.7 billion).

And Vodafone announced in early December the departure of its former chief executive, Nick Reed, who spent four years at the head of the group, which recorded shaky performances.

Dela Vallée held the interim position until his confirmation last month.

Vodafone, one of Europe’s leading telecommunications companies, has been undergoing a restructuring process for years that has prompted it to refocus its activities on Europe and Africa.

And last week, Vodafone and the Emirates Telecommunications group “Etisalat”, which became the majority shareholder of the British group a year ago, announced a “strategic partnership” agreement.

Etisalat gradually increased its stake in the British company a year ago, reaching 14.6% of the capital.

Vodafone shares, which are listed on the London market, fell more than 4% at 0911 GMT, hurt by the announcement of job cuts in the company, to reach the level of 86.4 pounds per share. ($108.2).

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Arab Desk
The Eastern Herald’s Arab Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

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