Vodafone, a multinational telecommunications company based in the United Kingdom, intends to eliminate a staggering 11,000 jobs in a bid to streamline and become more efficient. The layoff will be carried out over the next three years as part of the telco's strategic plan. Margherita Della Valle, the new CEO of Vodafone, unveiled the company's important strategic goals after the FY23 performance fell short of expectations.
"I am announcing my plans for Vodafone. Our performance has not been upto the mark." to consistently deliver he added, "Vodafone must change", In the FY23 financial report, Della Valle said,
Customer service, simplicity, and expansion are the new CEO's top priorities. Vodafone has an action plan in place that is centred on three priorities: Customers, Simplicity, and Growth, and will be implemented in four years.
"We will streamline our organisation and eliminate complexity to regain our competitiveness," she declared. To provide the high-quality services that our clients want and to capitalise on Vodafone Business's unique position, we will reallocate resources.
To achieve simplicity, 11,000 role reductions planned over three years, with both HQ and local markets simplification. We will be a leaner and simpler organisation, to increase our commercial agility and free up resources." she said, "
Regarding customers, Vodafone redirected sizable spending in FY24 towards brand and customer experience. Vodafone will focused on the fundamentals and provide the straightforward, consistent experiences customers demand if it is to succeed in the consumer markets.
Also, Vodafone has a growth strategy that includes a strategic assessment in Spain, continuous pricing action, and a recovery plan for Germany. We will concentrate our efforts on a portfolio of goods and regions that are sized appropriately for long-term growth and returns, the chief declared.
As corporations digitise, Della Valle said, "We will rebalance our organisation to maximise the potential of Vodafone Business, which continues to accelerate growth, has a distinctive set of capabilities, and has a strong position in a large and growing market."
"We'll alter our level of ambition, our pace, and our level of execution determination. Finally, Della Valle said, "We'll build up Vodafone Business, have empowered markets that are customer-focused, and remove complexity from our operations.
The downturn indicated by Vodafone in FY23 was consistent with forecasts. With growth in Africa and greater equipment sales offsetting declines in European service income and unfavourable currency rate movements, the Group's revenue climbed by 0.3% to €45.7 billion.
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