NEW DELHI: After Amazon, Google, Meta, telecom company Vodafone slashed 11,000 jobs as the company's share price has dropped to a two-decade low, and it is looking to restructure its operations in order to strengthen its competitive edge and customer experience.
The layoff news was first announced in November, however, the new CEO, Margherita Della Valle, said in a statement, “Our performance has not been good enough. To consistently deliver, Vodafone must change. My priorities are customers, simplicity, and growth. We will simplify our organization, 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."
According to reports, earlier this year Vodafone cut 1000 jobs in Italy and was looking to slash 1,300 jobs in Germany.
However, the mass layoff is part of Vodafone's strategic plan and will be implemented over the next three years. Vodafone's new CEO, Margherita Della Valle, underlined critical strategic priorities for the Group, highlighting the company's dismal performance in fiscal year 23.
The CEO further added, "We will change the level of ambition, speed, and decisiveness of execution. We will have empowered markets focused on customers, scale up Vodafone Business and take out complexity to simplify how we operate."
Recently, one of the leading e-commerce companies, Amazon, lay off over 9000 people, affecting approximately 500 Indian employees. Amazon quietly cut off roughly 10,000 employees across departments in 2022.
Furthermore, Meta lay off approximately 11,000 employees. In an email to Meta employees, Mark Zuckerberg said that he is making big changes to the company. He also apologized to the impacted employees and acknowledged full responsibility.
As part of cost-cutting measures, e-commerce firm Meesho lay off approximately 251 employees, or 15% of its staff, in March 2023. Meesho's layoffs came around nine months after it fired 300 employees in August of last year, and more than a year after the company laid off 150 people in April of last year, according to co-founder and CEO Vidit Aatrey.
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