Vodafone to layoff 11,000 employees; job cuts to affect operations globally

Vodafone is set to cut 11,000 jobs over the next three years in order to regain a competitive edge and simplify its organisation. The job cuts will account for over 10% of the telecoms group's global workforce. The move comes as Vodafone forecasts a €1.5bn drop in free cash flow this year. Vodafone has already reduced its workforce by 1,000 employees in Italy. The company expects to generate €3.3bn of cash this financial year, compared to €4.8bn in the previous year.

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