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.
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