Vodafone implements major workforce reduction, 11,000 jobs slashed

Telecoms giant Vodafone has decided to cut 11,000 jobs over the next 3 years. It will be one of the largest layoffs in the telecommunications industry.

Former telecommunications equipment maker Ericsson has cut 8,500 jobs worldwide as part of its cost-cutting plan. Meanwhile, new Vodafone chief executive Margherita Della Valle said the decision to cut jobs was taken as the company seeks a "simpler" organization as it forecasts little or no profit growth for the new financial year.

"Our performance has not been good enough. In order to provide sustainable service, Vodafone must change. My priorities are customers, simplicity and growth. We will simplify our organization, reduce complexity to regain our competitiveness. We will reallocate resources to deliver the quality service customers expect and driving further growth from Vodafone Business' unique position," Della Valle said in a statement.

Vodafone has recently cut jobs in several of its major markets, laid off 1,000 in Italy earlier this year and a media report said it planned to lay off around 1,300 in Germany. In relation to the proposed merger of its UK business with Hutchison's Three UK, Vodafone said it could not be certain that any transaction will eventually be agreed upon.

Earlier on Monday, e-commerce giant Amazon laid off a huge number of employees across businesses and functions in India. The Seattle-based tech giant has laid off at least 500 employees across the company's Amazon Web Services (AWS), human resources and support functions teams in India.