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Pin to quick picksVodafone Share News (VOD)

Share Price Information for Vodafone (VOD)

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Share Price: 73.50
Bid: 73.58
Ask: 73.62
Change: -0.68 (-0.92%)
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Open: 73.88
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Boss of troubled Vodafone Germany optimistic of turnaround

Sat, 01st Jul 2023 12:01

(Alliance News) - The head of Vodafone Germany says the telecoms company is getting back on its feet after a series of stumbles and declining market share in Europe's biggest economy.

Philippe Rogge, who was appointed chief executive of Vodafone Germany one year ago, told dpa in Dusseldorf that in the past 12 months the company has been on a "reliability offensive" aimed at improving mobile and broadband service.

"With this we have laid the foundation to be successful again in the future," he said.

Vodafone Germany is by far the most important subsidiary of Newbury, Berkshire-based Vodafone Group PLC.

While rivals Deutsche Telekom and O2 are on the up, Vodafone has been losing mobile phone contracts in Germany. Cable TV and broadband customers have also declined.

Rogge said new investments in technology were making Vodafone's previously volatile, and sometimes patchy, network more stable and widespread.

"Our fixed network is as reliable today as it was before the coronavirus - even though it carries much more data," he said.

4G coverage areas will be significantly expanded in the next year even as the 5G network continues to be rolled out and improved, he promised.

The number of complaints in call centres has also dropped by 15% within a year, said Rogge.

"We are back where we should be. We have eliminated the problems," he said. "So we will win over even more customers in the future.

The Vodafone group is under pressure not only in Germany but also in other markets after logging a string of tough quarters as earnings and growth slow. To revive its fortunes, the group plans 11,000 job cuts worldwide.

In Germany, Vodafone plans to cut roughly 1,300 full-time jobs as part of a restructuring and efficiency drive. The reductions come mainly in administration, meaning the German headquarters in Dusseldorf will be most impacted.

Currently, Vodafone still has about 5,000 employees in Dusseldorf and about 14,000 jobs nationwide in Germany. Around 400 new jobs are to be created in customer-related areas.

source: dpa

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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