Vodafone announced on Tuesday, Nov. 10, 2026, that it eliminated 3,000 positions across its UK and European divisions during the first half of the year. The reductions are part of a cost-reduction strategy intended to stimulate growth. The company also announced plans to cut an additional 2,300 jobs in Germany to address performance in that region.
These reductions follow a 2023 cost-cutting initiative led by Group Chief Executive Margherita Della Valle. Since she assumed the role, the company has eliminated 11,000 positions as of the end of September 2026, resulting in €700 million (£580 million) in annual cost savings so far. The latest cuts coincide with a €200 million (£165.4 million) expense reduction in Europe, including £41 million saved in the UK following an agreement to merge with Three UK.
The job losses affected various segments, including shared services operations that provide administrative support from hubs in India and eastern Europe. While the company confirmed cuts occurred in the UK, it did not disclose the specific number of domestic roles eliminated. Despite a statutory pre-tax loss of €373 million (£309 million) for the six months ending Sept. 30—down from a €2.1 billion profit the previous year—Vodafone raised its full-year earnings guidance to between €13.2 billion and €13.4 billion.
For consumers and investors, the financial impact is centered on Germany, where Vodafone recorded a €4.85 billion (£3.98 billion) writedown. This contributed to a pre-tax loss of €373 million for the half-year ending Sept. 30, 2026. However, the company reports that these cuts are funding an "action plan" to improve customer satisfaction and simplify German operations. The company projects organic earnings growth of 6% to 8% for the full year, a revision upward from previous guidance issued in July.
The next steps for the company involve the ongoing integration of the merger with Three UK, which was agreed upon in 2025. This merger has already contributed to €50 million in localized cost savings. Shareholders and employees will monitor the progress of the €2 billion cost-reduction target set for 2030. Further details regarding the specific timing of the 2,300 newly announced German job cuts or the exact number of UK redundancies have not yet been reported by the company.