Vodafones newly appointed CEO, Margherita Della Valle, announced on Tuesday that the telecom company plans to reduce its workforce by more than 11,000 employees over the next three years. This move aims to streamline operations and simplify the organisation, as the company anticipates minimal or no growth in earnings for the upcoming financial year. Della Valle emphasised the importance of creating a leaner and more efficient structure to enhance commercial agility and allocate resources effectively.In a statement, Margherita Della Valle acknowledged that Vodafones performance has been below expectations and emphasised the need for change. She outlined her priorities, which include a focus on customers, simplicity, and growth. Della Valle expressed the intention to streamline the organisation, removing unnecessary complexities to regain competitiveness. The company will reallocate resources to ensure the delivery of high-quality services that meet customer expectations and leverage Vodafone Businesss unique position to drive further growth.The company emphasised the importance of refocusing on the fundamentals in order to win over consumers. It stated that delivering a straightforward and reliable experience aligned with customer expectations is crucial in achieving this goal.Image: dnaindiaVodafones action planThe telecom company outlined its action plan, which centres around three key priorities. These priorities include reallocating significant investments to enhance the customer experience, implementing a turnaround plan in Germany with ongoing pricing initiatives, and conducting a strategic review in Spain. Additionally, the company plans to reduce a total of 11,000 roles over the next three years.Vodafone announced cost cutsIn November of the previous year, the company announced its plans to achieve cost savings of 1 billion euros ($1.08 billion) by 2026.At the start of this year, Vodafone made the decision to sell its operations in Hungary to the Hungarian government and the local IT firm 4iG for a total of $1.82 billion.
