Vodafone slashes 1,200 jobs across UK and rest of Europe in major cost-cutting drive

Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleVodafone Group has reported higher sales and profits (Reuters)Vodafone Group reported increased sales and profits, with service revenues totalling 8.6 billion euro (£7.4 billion) for its first quarter, a 10% rise year-on-year, and adjusted earnings up by 6.7%. The telecoms giant shed 1,200 jobs across Europe and in shared operations over recent months as part of a cost-cutting drive, aiming to save approximately £700 million annually by the 2030 financial year. The company's strategic transformation includes its merger with Three UK, forming the nation's largest mobile operator, and a focus on key markets like Germany, the UK, and Africa, alongside pulling out of smaller markets. Vodafone now anticipates adjusted earnings for the year to be between 13 billion euros (£11.1 billion) and 13.3 billion euros (£11.4 billion), following its recent acquisition of control over Kenya-based Safaricom. In the UK, mobile service revenues saw a 0.7% organic decline, partly due to the phasing out of mid-contract price rises following an Ofcom crackdown, resulting in a loss of 48,000 mobile contract customers but a gain of 34,000 broadband customers. In fullVodafone earnings boosted as cost-cutting leads to 1,200 job losses in EuropeMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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