Vodafone boss Margherita Della Valle said staff at its UK-facing division shouldn’t worry about job cuts this year, despite plans to axe 11,000 staff globally by mid-2026.
Profit for the first half of the year fell by two thirds to €550 million (£480 million), mostly due to business units sold off last year as part of a major turnaround plan. Della Valle, who took over as interim boss late last year before being appointed on a permanent basis, said that plan was “progressing... although much more needs to be done”. Revenue was down slightly, but ahead of analysts’ expectations, at €21.9 billion. In the UK, revenue was flat at €3.4 billion, though service revenue was up.
