Vodafone Germany Plans €400-Million Cost Savings

Vodafone Germany has outlined its objective to achieve approximately €400 million in savings over the next two years as part of a restructuring initiative that will impact around 2,000 jobs, the company announced on Tuesday.

 


Vodafone Germany Plans €400-Million Cost Savings

This decision is aligned with a cost-cutting strategy unveiled nearly a year ago, which aims to eliminate approximately 11,000 jobs globally.

The company stated, "Personnel costs will be reduced through savings and the relocation of around 2,000 jobs — also because manual tasks will be performed by increased automation in the future."

A significant portion of the savings will be derived from the decommissioning and modernization of outdated IT infrastructures, highlighted the telecommunications firm, a subsidiary of the British telecoms behemoth Vodafone Group, which also holds ownership of South Africa's Vodacom Group.

Despite the cost-cutting measures, Vodafone Germany intends to bolster its investment in high-growth areas such as cloud services and corporate client business segments.

Vodafone Announced Leadership Changes 

The mobile phone giant, which experienced rapid expansion across Europe in the early 2000s, has faced challenges in certain markets, particularly in Spain and Italy. Recently, it reached an agreement to divest its Italian operation to Swisscom.

Earlier this month, Vodafone announced leadership changes in its largest market, Germany, appointing Ahmed Essam from Vodafone UK as the new executive chairman of Germany and CEO of European Markets, replacing Philippe Rogge.

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