Vodafone, one of the world’s largest telecommunications services, has become the latest tech company to announce mass layoffs as part of a “turnaround” plan to help the carrier regain its competitive edge following periods of underperformance.
In a statement on Tuesday, newly appointed CEO Margherita Della Valle said the layoffs will include 11,000 employees over a three-year period—the biggest job cuts in the history of the company, which employs around 100,000 people in Europe and Africa.
Della Valle, an Italian businesswoman who was given the authorization to turn the company around when appointed chief executive in late April, said the job cuts would affect both the firm’s headquarters and local markets in other countries….