Telecommunications big Vodafone is reportedly planning to put off tons of of workers, primarily from its London headquarters, as a part of its cost-cutting measures. The transfer comes amid ongoing macroeconomic circumstances and follows comparable layoffs by corporations akin to Amazon, Cisco, Salesforce, and Ola.
Vodafone, which employs round 104,000 individuals worldwide, introduced in November its plans to chop prices by $1.08 billion by 2026. The upcoming layoffs will reportedly be the corporate’s “largest spherical of job cuts in 5 years.”
The corporate has been struggling to stability its income and falling earnings lately, significantly within the wake of the financial recession final 12 months. Because of this, CEO Nick Learn stepped down from his place, and the corporate misplaced 40% of its worth throughout his tenure. The corporate’s chief monetary officer, Margherita Della Valle, has taken on the function of interim CEO.
It’s unclear at the moment what number of workers in India, the place Vodafone operates underneath the model title Vi, will probably be impacted by the layoffs. Different corporations akin to Ola and Amazon have additionally introduced layoffs in current months on account of financial circumstances.
Q1: What number of workers will probably be impacted by Vodafone’s layoffs?
It is not but clear what number of workers will probably be impacted by the layoffs, nonetheless, it’s reported that will probably be largely from the London headquarters.
Q2: Is that this the primary spherical of layoffs Vodafone is doing?
In response to the information, that is the largest spherical of job cuts Vodafone has finished prior to now 5 years, indicating that the corporate might have finished smaller layoffs prior to now.