Mobile phone giant Vodafone has announced it will be cutting 11,000 jobs across the company.
New Vodafone CEO, Margherita Della Valle, said the company's recent performance was "not good enough" and the cull comes as part of a plan to simplify the business.
According to PA, the job cuts are set to impact the group’s UK headquarters in Newbury, Berkshire, as well as markets worldwide.
Ms Della Valle said: “Our performance has not been good enough.
“To consistently deliver, Vodafone must change.
“We will simplify our organisation, cutting out complexity to regain our competitiveness."
It comes on the back of Vodafone reporting a 1.3% drop in yearly earnings to a lower-than-expected 14.7 billion euros (£12.8 billion).
The future forecast also shows little or no growth in earnings over the current financial year.
The group’s former boss Nick Read, who was ousted in December due to concerns over the group’s performance, unveiled plans late last year to drive around one billion euros (£883 million) of cost savings.
The firm said at the time it could lead to job losses but did not put a figure on the number of roles being cut.
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