Vodafone to make its biggest round of job cuts in five years as it seeks to cut costs and revive its performance

Vodafone is preparing to make its largest round of job cuts in five years as the British telecom firm strives to rein in expenses and improve its performance. The jobs to be cut at Vodafone’s London headquarters will be several hundred in number.

After revealing that the group’s profitability had declined in the first half of the year, the corporation said in November that it would reduce costs by more than $1 billion by 2026. About 104,000 people work at Vodafone worldwide, including 9,400 in the UK.

The valuations of some of the top telecom organisations have fallen dramatically over the past few difficult years. That includes British Telecom and Vodafone in the UK, Telefónica in Spain and Orange in France.

Vodafone’s business in India has also been under pressure over the last few years, despite the government converting a large part of the company’s debt into equity and staring at an uncertain future.