Vodafone plans 11,000 job cuts

Vodafone plans to axe 11,000 jobs as new chief executive Margherita Della Valle warned the telecoms group “must change” to end a period blighted by a poor performance in its largest market and a slumping share price.

The cuts will come both at Vodafone’s UK headquarters and in local markets, the group said on Tuesday, as it published full-year results that fell short of analysts’ expectations.