Vodafone Group to Cut 1,200 Jobs in Spain Amid Price Pressures
10 Gennaio 2019 - 12:43PM
Dow Jones News
By Adria Calatayud
Vodafone Group PLC (VOD.LN) said Thursday that it plans to cut
up to 1,200 jobs in Spain, around 24% of its workforce in the
country, blaming price pressures amid increased competition.
The U.K. telecommunications group, which employs 5,100 people in
Spain, will this month begin a monthlong consultation with
employees, it said.
Vodafone said the job cuts follow a decline in revenue and
earnings from its Spanish operations in the first half of fiscal
2019.
Demand for telecommunication services is increasing in Spain,
although it is weighted toward low-and-medium cost offerings,
Vodafone said. The company said the job cuts are aimed at
protecting investment capacity and will make it a more competitive
organization better adapted to customers' needs.
Shares at 1109 GMT were up 0.3% at 153.24 pence.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
January 10, 2019 06:28 ET (11:28 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Grafico Azioni Vodafone (LSE:VOD)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Vodafone (LSE:VOD)
Storico
Da Apr 2023 a Apr 2024