🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Vodafone targets some 1,000 jobs cuts in Italy - union officials

Published 09/03/2023, 11:01
Updated 09/03/2023, 11:26
© Reuters. FILE PHOTO: Vodafone logo is seen at the 2023 Mobile World Congress (MWC) in Barcelona, Spain February 27, 2023. REUTERS/Nacho Doce
VOD
-

By Elvira Pollina

MILAN (Reuters) -Vodafone is looking to cut about 1,000 jobs in Italy as part of a larger cost saving plan the telecoms giant is pursuing to revamp its operations, two union officials told Reuters.

The figures emerged after an internal meeting between unions and company representatives in Italy on Thursday.

As of last March, Vodafone (LON:VOD)'s workforce in Italy totalled 5,765 employees, according to the group's latest annual report.

A negotiation process with unions is expected to kick off in the coming weeks, the officials said.

Vodafone's planned jobs cuts are focused in particular on customer care operations, one of the officials added.

© Reuters. FILE PHOTO: Vodafone logo is seen at the 2023 Mobile World Congress (MWC) in Barcelona, Spain February 27, 2023. REUTERS/Nacho Doce

Vodafone had no immediate comment.

Like other operators in Italy, Vodafone has been grappling for years with a challenging market, characterised by aggressive price competition which has eroded earnings.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.