Vodafone raises profit target after cutting 3,000 European jobs

Summarised from 3 outlets · Updated 10 Nov, 08:01 · Archive

Vodafone has raised its profit target after cutting 3,000 roles across Europe between April and September 2026.

Vodafone has raised its full-year profit target after cutting 3,000 jobs across Europe between April and September 2026, generating savings of €200m (£167m). The firm also announced plans to cut a further 2,300 jobs in Germany over two years. Group chief executive Margherita Della Valle said German operations were 'not yet where it needs to be', with earnings falling 2.4 per cent in that market.

The FTSE 100 group upgraded its full-year targets after revenue jumped 11.4 per cent to €21.9bn in the first half, driven by consolidation of Safaricom, Vodafone Three and Telekom Romania. The firm now expects earnings before tax of €13.2bn to €13.4bn, up from a previous range of €13.0bn to €13.3bn, and cash flow of €2.8bn to €3bn. Adjusted earnings for the half-year reached €6.45bn, up 6.4 per cent, although a €3.6bn statutory net loss was recorded after impairment charges in Germany and derecognition of UK deferred tax assets.

Vodafone raises profit target after cutting 3,000 European jobs — Image: Evening Standard

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How it is being reported

Vodafone axed another 3,000 jobs in first half amid cost-cutting overhaulThe telecoms group raised its annual earnings guidance again to between 13.2 billion and 13.4 billion euros (£10.8 billion to £11 billion).Evening Standard · 10 Nov, 08:23
Vodafone axed another 3,000 jobs in first half amid cost-cutting overhaulThe telecoms group raised its annual earnings guidance again to between 13.2 billion and 13.4 billion euros (£10.8 billion to £11 billion).Independent Business · 10 Nov, 08:23
Vodafone raises profit target after cutting 3,000 European jobsVodafone has raised its profit target after wielding the axe on thousands of roles across Europe in the first half of the year. The telecommunications giant said it had cut 3,000 roles in the region between April and September 2026, helping drive savings of €200m (£167m). The FTSE 100 group also confirmed it would cut [...]City AM · 10 Nov, 07:38

In this story: Vodafone · Margherita Della Valle · Europe · Germany · UK

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