Vodafone Says Wants to Cut Up to 1,200 Jobs in Spain

Vodafone Says Wants to Cut Up to 1,200 Jobs in Spain
Highlights
  • Vodafone is looking to streamline the organisation
  • The telecom operator hopes to cope with a drop in revenue
  • Vodafone had launched a cost-cutting plan in November
Advertisement

Vodafone said Thursday it planned to cut up to 1,200 jobs in Spain as it streamlines its organisation to cope with a drop in revenue and profits in a fiercely competitive telecommunications market. In a statement, the group said it would kick off consultations with worker representatives at the end of January with a view of cutting "a maximum of 1,200" posts out of around 5,100 in Spain.

"In the current market context, demand for services is increasing exponentially but prices aren't: close to 50 percent of... memberships are associated with 'low and medium cost' offers," the Vodafone statement read.

It added that had caused a drop in revenues and profits "in the first six months of the current tax year."

The group also said it needed to streamline the organisation.

The news comes after the British telecoms giant in November launched a new 1.2-billion-euro cost-cutting plan as it faced heavy losses.

Newly-installed chief executive Nick Read had said at the time that there were "challenging competitive conditions in Italy and Spain."

Also on Thursday, Belgian telecoms operator Proximus announced it planned to cut 1,900 jobs over the next three years but pledged to recruit 1,250 other people over that period specialised in digital technology.

Proximus boss Dominique Leroy cited "aggressive market conditions... that leave us no choice."

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Vodafone
Tesla CEO Elon Musk Offered Residency by China
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »