Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Vodafone, the global communications group, has announced on 16 May 2023 that 11.000 jobs will be cut globally within the next three years. The affected locations include Germany, Italy, Spain, and the United Kingdom, and the affected units include shared services to regional businesses. Vodafone's Chief Executive Margherita Della Valle has stated that the reason behind the job cuts are the company's shares having fallen to the lowest level since 20 years. Another driving factor is the safeguarding of Vodafone's competitive capabilities, which have been threatened by recent poor performance, especially in its biggest market, Germany.
Previous restructuring cases within Vodafone have been recorded in the ERM events database. During 2023, an internal restructuring plan has been announced in Germany (Vodafone-2023-DE) and Italy (Vodafone-2023-IT). Previous restructuring include one in 2021 in Spain (Vodafone-2021-ES), and in 2020 in Italy (Vodafone-2020-IT).
Eurofound (2023), Vodafone, Internal restructuring in World, factsheet number 109273, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109273.