Layoffs 2023: Vodafone layoffs are back, this time here to affect another 1,000 jobs. As per updates, this round of Vodafone layoffs may reportedly impact employees only in Italy.
According to a Reuters report, Vodafone has said that its plans to cut these 1,000 jobs are expected to impact almost a fifth of its total workforce in Italy. Before this, two union officials had also told the publication that Vodafone was planning to trim down its Italian unit.
Vodafone layoffs come as a part of the company’s bigger plans to cut and save on costs. As per the report, Vodafone Italia also said in a statement that it’s looking to cut 1,000 jobs after a fall in its revenues and margins. The fall was reportedly seen due to “extraordinary competitive pressure” in the telecom space.
As per Vodafone’s last annual report, the British telecom giant’s total workforce in Italy stood at 5,765 employees, Reuters adds.
As far as Vodafone layoffs go, this round of job cuts is officially the second big round of layoffs. Before this, when the first round of job cuts happened, the company resorted to giving pink slips to its employees, primarily in London headquarters.
Vodafone layoffs come at a time when the European telecom sector is as it is battling with a tough time, especially with energy prices and interest rates soaring. The company has repeatedly emphasised on its need to simplify its operations.
