Vodafone, the British mobile phone company, announced plans to cut 11,000 jobs over the next three years as new CEO Margherita Della Valle seeks a “simpler” organization.
Della Valle said in a statement that “Our performance has not been good enough. To consistently deliver, Vodafone must change.”
According to AFP, Della Valle, who was named CEO of Vodafone on a permanent basis in early May after serving as interim CEO for five months, stated, “We will simplify our organization, cutting out complexity to regain our competitiveness.”
Her predecessor, Nick Read, stepped down in early December after a four-year tenure that saw the company’s share price plummet dramatically. He left while Vodafone was in talks with rival Three UK, which is owned by Hong Kong-based CK Hutchison.
According to media reports, a £15 billion ($18.7 billion) deal is nearing completion.
According to IANS, LinkedIn, a Microsoft-owned company, recently laid off 716 employees as the company makes changes to its Global Business Organization (GBO) and shuts down its InCareer app in China. In an email to employees, CEO Ryan Roslansky stated that the move was made to streamline the company’s operations.
Cognizant has announced plans to lay off 3,500 employees as the company’s revenue is expected to fall this year. Cognizant is also planning to give up millions of square feet of office space in order to save money.
Meanwhile, telecom equipment maker Ericsson announced on Monday that the charging consolidation program for telco Vodafone Idea Ltd has been completed, with Ericsson Charging replacing three existing Online Charging Solutions (OCS) as the single solution across India.