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, a multi-national group that operates in the mobile telecommunications sector, has announced that it is to cut 450 jobs at its headquarters in Newbury in Berkshire. In a parallel development, the group has also announced that it is to create 460 new jobs across the series of retail outlets that the group operates in the UK. 330 of the new jobs will be for retail advisors whilst 130 will be in sales and services. Nick Read, the Chief Executive of Vodafone, stated that the redundancies at Newbury were being made in order to ‘simplify the way [the site] works’. Richard Benyon, the Member of Parliament (MP) for Newbury, said that he had had detailed talks with Vodafone and was satisfied that those workers facing redundancy would be provided with support.
A spokeswoman for the Communication Workers Union (CWU) stated:
‘The job losses in the Newbury area are regrettable, especially considering that Vodafone operates in a growth industry. CWU will support any member affected by this announcement.’
The spokeswoman also stated:
‘We welcome the investment by Vodafone into its customer interfacing sectors of retail, sales and customer support which could create up to 460 jobs across the UK. While many telecom companies are outsourcing their work we are pleased that Vodafone are choosing to invest in the UK workforce.’
As of March 2008 there is no information on when either the job losses or jobs created will be implemented by. There is also no information on the number employed by Vodafone in the UK. Vodafone employs approximately 66,000 internationally.
Eurofound (2008), Vodafone, Internal restructuring in United Kingdom, factsheet number 66455, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66455.
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