Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Vodafone plans 1,130 jobs cuts in Italy

Published 03/11/2019, 11:32 AM
Updated 03/11/2019, 11:35 AM
© Reuters. FILE PHOTO:  A Vodafone logo is seen on a mobile internet dongle in this photo illustration

MILAN (Reuters) - The world's second largest mobile operator Vodafone (LON:VOD) said on Monday it aims to cut its Italian workforce by 16 percent as part of a broader effort to reshape its business model given increasing pressure in the country's mobile market.

The company will open negotiations with local trade unions over 1,130 redundancies, it said in a statement on Monday. Vodafone employs around 7,000 people in Italy, according to its website.

Last week Telecom Italia (MI:TLIT) has reached a deal with trade unions on 4,300 job cuts, a source familiar with the matter has said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.