British telecom company Vodafone today announced it will eliminate 11,000 employees over the next three years as its new CEO Margherita Della Valle looks to create a “simpler” business given that it expects earnings to increase by little to nothing in the upcoming fiscal year.
Customer service, simplicity, and expansion are the new CEO’s top priorities. Vodafone has an action plan in place that is centered on three priorities: Customers, Simplicity, and Growth, and will be implemented in four years.
“My priorities are customers, simplicity and growth. We will simplify our organisation, cutting out complexity to regain our competitiveness. We will reallocate resources to deliver the quality service our customers expect, and drive further growth from the unique position of Vodafone Business,” CEO Margherita Della Valle mentioned.
According to Vodafone, the action plan is centered around three priorities: a turnaround plan for Germany, continued pricing action, and a strategic review in Spain; significant investment reallocated in the upcoming fiscal towards customer experience and brand; and 11,000 role reductions planned over three years, with both HQ and local markets simplification
In the announcement, she mentioned:
“We will simplify our organisation, cutting out complexity to regain our competitiveness. We will reallocate resources to deliver the quality service our customers expect and drive further growth from the unique position of Vodafone Business.”Margherita Della Valle‘s predecessor, Nick Read, resigned from his position in December of last year after serving in that capacity for four years during which the price of the company’s stock plummeted.
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