Vodafone axing 11,000 jobs as UK wireless carrier aims to cut costs, boost growth

LONDON (AP) — Wireless carrier Vodafone says it’s laying off 11,000 workers as part of a major revamp aimed at cutting costs and boosting flagging financial performance. Vodafone is one of the world’s biggest mobile phone companies by subscribers. It made the announcement Tuesday as it reported that its annual earnings dropped 1.3% and forecast little or no earnings growth over the financial year. Vodafone says the reductions would be carried out over the next three years. The new CEO of the one of the world’s biggest mobile phone companies by subscribers aims to cut costs by 1 billion euros by 2026. The job losses come amid sweeping cuts in the wider technology industry.