Vodafone has introduced an enormous programme of job losses, that may impression its UK operations, in a bid to recuperate its monetary efficiency.

The firm's new chief govt stated the telecoms agency had turn into uncompetitive and 11,000 roles would go over the following three years.

The group employs simply over 100,000 individuals globally, with simply over 9,000 of them within the UK.

Vodafone was but to answer requests for info on what number of UK roles can be affected but it surely was confirmed that its headquarters, in Berkshire, would see an impression.

Margherita Della Valle, who was completely appointed CEO final month after her predecessor Nick Read was ousted late final 12 months, stated: "Our efficiency has not been adequate.

"My priorities are customers, simplicity and growth. We will simplify our organisation, cutting out complexity to regain our competitiveness."

She was talking as Vodafone reported a 1.3% drop in full-year earnings to £12.8bn.

That determine missed its personal steering.

The firm forecast little or no development in the identical measure over the present monetary 12 months - with Germany, its largest market, proving the most important drag.

Growth in Africa and better handset gross sales, nevertheless, enabled it to eek out a 0.3% rise in income over the 12 months.

Shares fell by 4% on the open.

Content Source: information.sky.com