London : After Amazon, an e-commerce company providing online shopping services, now wireless service provider Vodafone is planning to lay off 11,000 employees. According to media reports, wireless service provider Vodafone said on Tuesday that it is going to lay off 11,000 employees to reduce costs and improve financial performance. Vodafone, one of the world’s largest telecom companies, has made this announcement in the context of its annual income growth of 1.3 percent. There is also a possibility of Vodafone’s earnings growth being nominal or absent in the current financial year.
The retrenchment process will be completed in the next three years.
The company’s Chief Executive Officer (CEO) Margherita Della Valle said that given the conditions of our industry and the current situation of Vodafone, we need to change. We need to reduce operational complexity and simplify it. Vodafone said that the reduction in the number of jobs will be carried out over the next three years.
Layoffs in Germany, Italy and Britain as well
The company has already announced layoffs at its headquarters in Italy, Germany and the UK. Along with this, Margherita has set a target of cutting Vodafone’s cost by one billion euros by the year 2026. The company operates in major telecom markets including Europe and Africa and has around one lakh employees worldwide.
Amazon Lays Off: Amazon will lay off 500 employees in India, 9,000 will be unemployed all over the world
9000 layoffs in Amazon
Let us tell you that online shopping e-commerce company Amazon is also going to lay off about 9,000 employees in the whole world including India. According to media reports, Amazon is in the process of laying off about 500 employees in India. Amazon CEO Andy Jassy announced this at the end of March, affecting 9000 employees of this company worldwide.
