Vodafone plans to eliminate 2,300 jobs in Germany as part of an effort to improve results there, The Independent reported, adding to a wider cost-reduction drive across the telecommunications group.
Vodafone Group Chief Executive Margherita Della Valle said she was pleased with group performance but acknowledged Germany was “not yet where it needs to be.” The Independent reported that the planned German cuts are intended to improve performance in that market.
The latest plan follows 3,000 positions removed from Vodafone’s U.K. and European businesses during the first half, the outlet reported. Shared-services operations were also affected, though the report did not give a separate count or say whether those jobs were included in the 3,000. Vodafone removed €200 million from its European expense base. The Independent said this included €50 million in U.K. savings after Vodafone’s 2025 agreement to combine with Three UK and form VodafoneThree.
Vodafone’s broader program aims to reduce annual costs by more than €2 billion across European and shared-service operations by 2030. The Independent said the cost-cutting strategy is intended to support growth. It also reported that Vodafone cut 11,000 roles from 2023 through September 2026 and reduced annual costs by €700 million over that period.
The company raised its full-year earnings guidance to €13.2 billion to €13.4 billion, according to the report. Its results showed a pretax loss of €373 million for the six months ended Sept. 30, compared with a €2.1 billion profit a year earlier. A €4.85 billion impairment charge in Germany and other impairment charges contributed to the loss, The Independent reported.
EconoTimes previously covered the first-half cuts and earnings outlook in its report on Vodafone’s cost reductions and higher guidance.
