The mobile phone group expanded across Europe in the first decade of this century. (document)
Frankfurt:
Vodafone Germany said on Tuesday it plans to save about 400 million euros ($434.48 million) over the next two years as part of a restructuring that will see it cut about 2,000 jobs.
The move is part of a cost-cutting plan announced nearly a year ago that will result in the loss of about 11,000 jobs worldwide.
“Staff costs will be reduced through savings and the relocation of around 2,000 jobs, also because manual tasks will be performed through increased automation in the future,” it said.
The company, owned by British telecoms giant Vodafone, said most of the savings would come from shutting down and updating outdated IT structures.
However, the company said it will step up investment in high-growth areas such as cloud and enterprise customer businesses.
The mobile phone group expanded in Europe in the 2000s but struggled in Spain and Italy and agreed to sell its Italian business to Swisscom.
Earlier this month, Vodafone said it would replace Philippe Rogge, the boss of Germany, its biggest market, with Vodafone UK’s Ahmed Essam becoming executive chairman of Germany and Europe. Marketing CEO.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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