Vodafone Plans to Cut 11,000 Jobs to Improve Customer Experience
The British telecom company, Vodafone, has announced plans to eliminate 11,000 jobs, or over 10% of its global workforce over the next three years. The decision is part of a company-wide reorganization effort aimed at enhancing customer experience.
Recently appointed CEO, Margherita Della Valle, commented that Vodafone currently has a more complex structure than necessary, affecting commercial flexibility in local markets. The job cuts will take place both at Vodafone’s headquarters in the UK and in other countries.
Vodafone has earmarked “significant investments” for the 2024 financial year to enhance customer experience and branding. The company aims to “maximise the potential” of Vodafone Business, which it believes has strong potential amid rising demand from organizations undergoing digital transformation.
To win back consumers, Vodafone plans to “get back to basics” and provide a “simple and predictable experience” that it believes customers expect. The company will also aim to focus its efforts and resources on releasing products and operating in regions that will boost future profitability.
Vodafone’s preliminary results for the 2023 financial year, which ended on March 31, met forecasts. The company’s revenue increased year-on-year by 0.3% to 45.7 billion euros, thanks to revenue growth in Africa and increased equipment sales, despite lower service revenues in Europe and unfavorable currency fluctuations. However, Vodafone’s profit fell by 1.3% to 14.7 billion euros due to higher energy costs and weak performance in Germany.
The profit forecast for the 2024 financial year remains unchanged at around 13.3 billion euros, reflecting Vodafone’s current structure and expected exchange rates.
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