Vodafone Idea Payoff: The year 2023 has started in the shadow of recession. In the last few times, many big companies of the country and the world have announced the retrenchment of their employees. Now the name of telecom service provider company Vodafone-Idea (Vodafone Idea Layoff) has also been added to this list. The increasing pressure in the market has affected Vodafone-Idea. This company has once again decided to lay off a large number of its employees. The thing to note is that the company will fire hundreds of employees for the next 5 years.
Vodafone decided to reduce costs
In view of the impact of Recession in the market, Vodafone-Idea had announced its cost cutting in November 2022 itself. The company had announced that by the year 2026, the company would reduce its expenditure by up to $ 1.08 billion. Large telecom companies in the European market such as Telefonica in Spain and Orange in France have decided to cut costs by up to 50 percent.
Employees will be laid off at these places
According to the report published in the Financial Times, Vodafone is planning to cut hundreds of jobs worldwide. In this, the biggest retrenchment will be done in the company’s London office. Let us tell you that the company gives jobs to about 1,04,000 people all over the world. This company works under the ID as well as the VI brand name. At present, it is difficult to say how much the effect of this retrenchment will be on India.
Many companies laid off employees
Apart from Vodafone-Idea, many companies have laid off their employees. There are many startup companies in this, Byju’s, Unacademy, Lead, Swiggy, Vedantu etc. year 2023 It started in the shadow of recession. Even in the year 2022, many big companies like Twitter, Amazon, Facebook’s parent company Meta, Amazon, Microsoft have laid off a large number of their employees.
