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Wednesday, February 28, 2024

Germany. Vodafone to liquidate around 1,400 full-time jobs in Germany

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If we want to finance our ambitions, we must take this painful step,” said Philipp Rogge, head of Vodafone Germany. The telecoms provider plans to cut around 1,300 full-time jobs in Germany. This applies mainly to administrative and managerial positions, the portal of the daily “Handelsblatt” reported on Wednesday.

“If we want to finance our ambitions, we must take this painful step,” Rogge said, announcing a “new start” for his company. Up to 400 new jobs are to be created. In total, about 6.3 percent of the 14,230 full-time positions in Germany will be reduced, writes “Handelsblatt”.

Vodafone’s activities in the previous year

Reuters reported that last year, in November, Vodafone took €1 billion in cost-saving measures in connection with the deteriorating market outlook. Nick Read also stepped down as CEO at this time. During his tenure, the group’s share price nearly halved.

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Last year, Vodafone agreed to sell its business to Hungary. The Hungarian government has decided to buy back a subsidiary of Vodafone, the second largest player on the telecommunications market, for 1.7 billion euros.

Read also: Layoffs at a well-known tech company. “Difficult decision to reorganize”

Main photo source: Vytautas Kielaitis / Shutterstock.com

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