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Vodafone incoming CEO reveals firing intentions in Romania, India and Egypt, FT reports

Vodafone incoming CEO, Nick Read, who will take over this position as of next month, has told an interview to Financial Times that the telecom giant plans to lay off 1,700 people this financial year, part of them including from the offices the British groups has in Romania.

Nick Read explained that Vodafone would shed 1,700 jobs across shared service centres in Egypt, India and Romania, which means around 8 per cent of the workforce in that side of the business. As the incoming CEO said, the cuts are part of a wider drive to strip EUR 8bn of costs from the business as more back-office functions are taken over by “robots”.

He also disclosed that he is considering a sale of tens of thousands of mobile masts to reduce the company’s EUR 31bn debt pile.

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