Vodafone Group Plc. stock declined over 7% on Tuesday, reaching its lowest level since December last year, after the company announced that it will eliminate roughly 11,000 positions globally over the next three years.
"The comparative performance of Vodafone has worsened over time, which is connected to the experience of our customers," CEO Margherita Della Valle explained in the report. "To consistently deliver, Vodafone must change," the chief executive underscored.
British telecoms giant's shares plunged 7.49% to sell at £83.29 per share at 12:33 pm CET.
