Swipe for next article Vodafone Group has said it cut 1,200 jobs across Europe in recent months as the telecoms giant aims to strip two billion euros (£1.71…
Published
Source: The Independent
Swipe for next article
[Vodafone](https://www.independent.co.uk/topic/vodafone) Group has said it cut 1,200 jobs across [Europe](https://www.independent.co.uk/topic/europe) in recent months as the telecoms giant aims to strip two billion euros (£1.71 billion) from its costs in the next four years.
It came as shareholders in the company approved a pay package worth £10 million for boss Margherita Della Valle.
Vodafone said its cost-saving initiatives had helped deliver the reduction in roles across Europe and in its shared operations in the three months to the end of June.
It did not specify how many UK jobs have been affected. It is understood that some of the reduction involved natural attrition, when people are not replaced after they leave the business.
The UK business, which became VodafoneThree after merging with Three UK last year, is aiming to shave about £700 million a year from its total costs and capital spending by the 2030 financial year.
Most of this will come from reducing operating expenditure, which refers to the day-to-day costs of running the business and which is being cut as a result of the two mobile networks being integrated.
Since completing the merger of Vodafone and Three in the UK last year, the company has been working to integrate the two brands, including sharing their 5G networks.