Vodafone axes 3,000 jobs in UK and Europe amid cost cutting drive

Résumé détaillé

Vodafone revealed plans for a further 2,300 job cuts in Germany to help revive performance in the country

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Vodafone reduced its workforce across its UK and European divisions by 3,000 roles during the first half of the year, driven by a wider cost-reduction strategy designed to stimulate growth.

The telecommunications firm confirmed the workforce reductions coincided with removing €200 million (£165.4 million) in expenses across its European business. This included €50 million (£41 million) of savings in the UK following its agreement to merge with Three UK in 2025 to form VodafoneThree.

The business did not disclose the precise number of positions eliminated within the UK, where the company is currently headquartered.

Redundancies also affected shared services operations, which handle administrative support functions for the division from support hubs located in India and eastern Europe.

On Monday, Vodafone revealed plans for a further 2,300 job cuts in Germany to help revive performance in the country, forming part of a broader target to slash annual expenses by more than €2 billion (£1.64 billion) across European and shared operations by 2030.

Spurred by the spending cuts, half-year results showed the group increased its full-year earnings guidance once again, now anticipating between €13.2 billion and €13.4 billion (£10.8 billion to £11 billion).

This implies growth of around 6 per cent to 8 per cent on an organic basis.

This is up from previous guidance for underlying earnings of 13 billion to 13.3 billion euros (£10.7 billion to £10.9 billion) when it last hiked its outlook in July.

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