Vodafone plans to cut 1,000 jobs in Italy, almost a fifth of total

GSMA's 2023 Mobile World Congress (MWC) in Barcelona
Vodafone's logo is displayed, during the GSMA's 2023 Mobile World Congress (MWC) in Barcelona, Spain March 1, 2023. REUTERS/Nacho Doce

MILAN, March 13 (Reuters) - Vodafone (VOD.L) said on Monday it plans to shed 1,000 jobs in Italy -- almost a fifth of its total workforce in the country -- confirming what unions had told Reuters last week.

Two union officials had told Reuters that the British telecoms giant was looking to slim down its Italian unit as part of a larger cost saving plan.

Vodafone Italia said in a statement it is looking to cut 1,000 jobs after a fall in revenues and margins resulting from "extraordinary competitive pressure" in the telecoms sector.

The company shared the news in a meeting with unions in which it informed them of the need for a "radical simplification" of operations.

As of last March, Vodafone's workforce in Italy totalled 5,765 employees, according to the group's latest annual report.

Reporting by Elvira Pollina, writing by Federico Maccioni, editing by Alvise Armellini

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