According to industry reports, multinational telecommunications company Vodafone Group is preparing a round of job cuts as it seeks to cut costs by US$1 095 billion by 2026.
BMA understands that the cuts have not been finalised but will likely number in the hundreds and also affect the offices in London.
In a statement, the telecom operator said, “We are reviewing our operating model, focusing on streamlining and simplifying the group. We will say more about the changes when we announce our third quarter results on 1 February.”
Recently, Vodafone Group has been in the midst of a turbulent few months, which has seen its share price sink to its lowest in decades and CEO Nick Read leave last month, as it deals with inflation and fends off activists and strategic investors. In addition, Vodafone announced a cost-cutting programme in November.
A spokeswoman for the Prospect union, which has members at Vodafone, said it will “ensure that any members impacted by proposed job cuts are treated fairly and consistently.
