Vodafone, the British mobile phone giant, has revealed plans to cut 11,000 jobs over the next three years. The decision comes as the company’s new CEO, Margherita Della Valle, seeks to create a simpler organization and improve performance.
CEO Della Valle Calls for Change
Margherita Della Valle, who recently took on the permanent role of Vodafone’s CEO after serving as interim boss for five months, emphasized the need for change in a statement. She acknowledged that the company’s performance has been unsatisfactory and emphasized the importance of consistent delivery.
Simplifying the Organization
Della Valle aims to simplify Vodafone’s organizational structure and reduce complexity to regain competitiveness. The company plans to streamline its operations by eliminating unnecessary layers and processes.
Predecessor’s Departure and Merger Talks
Della Valle succeeded Nick Read, who stepped down as CEO in early December. During Read’s tenure, Vodafone experienced a significant decline in its share price. Before leaving, Read initiated talks regarding a potential merger of Vodafone’s UK operations with Three UK, a rival company owned by CK Hutchison.
Potential Merger Deal on the Horizon
Media reports suggest that Vodafone’s discussions with Three UK regarding the merger are nearing completion. The deal, valued at £15 billion ($18.7 billion), could bring significant changes to the telecommunications landscape.
Industry Layoffs and Restructuring
Vodafone’s announcement comes at a time when other companies in the industry are also implementing changes. LinkedIn, a subsidiary of Microsoft, recently laid off 716 employees as part of its efforts to restructure the Global Business Organisation (GBO). Additionally, LinkedIn shut down its InCareer app in China to streamline operations.
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