Almost a quarter of Vodafone’s workforce in Spain could lose their jobs after a costly price war.
The mobile phone group’s Spanish business will start a consultation with employees on plans to slash up to 1,200 jobs. It blamed the cuts on a downturn in its financial performance amid intense competition.
The market has been disrupted by Másmóvil, a low-cost competitor, and the pressure on Vodafone has been compounded by a dip in customers after it decided to stop wholesaling football content from Telefónica, the Spanish rival that owns the O2 network in Britain.
Difficulties in some underperforming markets, notably Spain and Italy, have weighed on Vodafone’s financial performance. In November, it reported a 5.5 per cent decline in revenue to €21.8 billion and a…
Want to read more?Subscribe now and get unlimited digital access on web and our smartphone and tablet apps, free for your first month.Start your free trial