Vodafone´s woes continue with a further round of job cuts from its global workforce – this time in Spain. The Spanish entity has started proceedings for the nearly a quarter of its staff to be dismissed. This amounts to around 1200 people. , have been justified by the telecoms giant due to the obligation to reduce costs due to a fall in earnings caused by a continuous reduction of prices.
The company claims that the cull is dies to a fall in earnings and a continuation of the trend of lower and lower prices even with enhanced services. “In the current market climate, demand for services continues to grow exponentially, but this is not the case with prices,” said the company in a press release.
The redundancies will hit hard in Madrid where Vodafone have their newly opened Spanish headquarters and will start within a few months. In 2018 the company lost over half a million customers in its mobile phone and broadband businesses.