Vodafone Plans 11,000 Job Cuts (cnn.com) 11
Vodafone said Tuesday it would cut 11,000 jobs over three years, as the telecom company unveiled a turnaround plan to revive its fortunes following years of poor performance. From a report: The job cuts would affect the firm's UK headquarters and operations in other countries, Vodafone added in a statement. "Our performance has not been good enough," CEO Margherita Della Valle said.
"We will simplify our organization, cutting out complexity to regain our competitiveness." Two decades ago, Vodafone was the world's biggest mobile telecom group, having bought Germany's Mannesmann in 2000 in the largest takeover in history. The deal was valued above $190 billion. But the company, which has businesses in 21 countries and partnership agreements with local operators in another 46 locations, has struggled to retain market share. Vodafone employs 104,000 people worldwide, according to its latest annual report. Apart from the United Kingdom, it is a major provider of mobile networks in Germany, Spain, Italy and parts of Africa.
"We will simplify our organization, cutting out complexity to regain our competitiveness." Two decades ago, Vodafone was the world's biggest mobile telecom group, having bought Germany's Mannesmann in 2000 in the largest takeover in history. The deal was valued above $190 billion. But the company, which has businesses in 21 countries and partnership agreements with local operators in another 46 locations, has struggled to retain market share. Vodafone employs 104,000 people worldwide, according to its latest annual report. Apart from the United Kingdom, it is a major provider of mobile networks in Germany, Spain, Italy and parts of Africa.
Start with the CEO please (Score:2)
No? I thought the CEO was the major success factor? Or is that only true when things go well?
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Not No. The CEO lost his job in December and the current one took the position this January.
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Ah, so they hired a hatchet man. That is different.
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I'm shocked! (Score:2)
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Pffft... (Score:3)