After Twitter, Amazon, Vodafone on the way to massive layoffs
After Twitter, Amazon, another multinational will take the path of massive layoffs. Hundreds of workers could lose their jobs. The ‘Financial Times’ news agency claimed that popular telecommunications company Vodafone had decided to make massive cuts. Hundreds of workers could be fired from the organization at short notice.
Vodafone is going to lay off employees from different parts of the world. However, the company’s London headquarters may be the most affected by the massive layoff. In the past 5 years, such a significant mass reduction process has not happened at Vodafone.
The company had previously informed that Vodafone was not making much profit in the global market. Last November, they announced several cost reduction measures in the coming days. By 2026, Vodafone has announced a cost reduction of around Rs 108 crore. Not only Vodafone, other telecom companies in Europe have also suffered losses in the recent past. Basically, the slowdown in activity is due to inflation and rising interest rates, say the authorities.
Around 14,000 people work at Vodafone worldwide. Many people are also associated with this organization in India. Vodafone also has many customers. Vodafone in this country, known as “Vodafone Idea”. It is not yet clear how the massive withdrawal of this company will have an impact in India.
Vodafone CEO Nick Reid resigned at the end of last year. During his tenure, the company recovered 40% of its value. Following his resignation, Della Valle became the company’s interim CEO.
Vodafone recently divested its activities in Hungary. Vodafone’s business stake in the country has been sold to a local IT company. Then the company decided to withdraw.
Source: Anandabazar Newspaper
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