The job cuts would affect the firm’s UK headquarters and operations in other countries, Vodafone added in a statement. Shares slid more than 4% in London. “Our performance has not been good enough,” CEO Margherita Della Valle said. “We will simplify our organization, cutting out complexity to regain our competitiveness.” Vodafone\n \n employs 104,000 people worldwide, according to its latest annual report.
” European telecoms companies have fared particularly poorly over the past decade, delivering lower returns to shareholders than in the United States, according to McKinsey. Within a challenging sector, Vodafone’s performance relative to peers had “worsened over time,” Della Valle said in a video posted to the company’s website.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
3M chief business officer fired for inappropriate conduct | CNN Business3M fired 30-year company veteran Michael Vale on Friday for “inappropriate conduct,” less than one month after elevating him to a new role as chief business and country officer.
Source: CNN - 🏆 4. / 95 Read more »
Vice Media files for Chapter 11 bankruptcy ahead of planned sale | CNN BusinessVice Media filed for Chapter 11 bankruptcy protection Monday to facilitate a sale of the company, according to court documents and a statement from the struggling media group.
Source: cnni - 🏆 326. / 59 Read more »
Sexual harassment debate breathes new life into China's #MeToo movement | CNN BusinessA heated online debate on the definition of sexual harassment has broken out in China in the wake of a series of allegations made against an influential screenwriter, rekindling interest in the country's struggling MeToo movement.
Source: CNN - 🏆 4. / 95 Read more »
Ex-ByteDance employee claims China had 'supreme access' to all data | CNN BusinessChina's Communist Party had 'supreme access' to all data held by TikTok's parent company Bytedance, including on servers in the United States, a former employer who is bringing a wrongful termination lawsuit has alleged.
Source: cnni - 🏆 326. / 59 Read more »
Economy | CNN BusinessKate Spade’s $500 “sheepdog” bag is an example of how companies keep raising prices -- and consumers keep paying them.
Source: CNN - 🏆 4. / 95 Read more »
Turkish lira sinks to new record low on possibility of Erdogan re-election | CNN BusinessInvestors are nervously awaiting the outcome of Turkey's tight presidential race Monday, sending stocks falling and the value of its currency down to a new record low against the US dollar.
Source: cnni - 🏆 326. / 59 Read more »