Vodacom’s net income rose 9% to R8.5bn in the six months ended September 30, while costs jumped 37% to R28bn.
Vodacom Group is planning to cut jobs at home in South Africa, its biggest market, to help reduce costs. Africa’s largest wireless company by market value expects to cut about 80 jobs, the Johannesburg-based Vodacom said in response to queries on Monday. The firm employs about 5 400 people and the reductions will be at all levels of the company, it said.
“Additionally, Vodacom South Africa continues to proactively implement various cost reduction measures to ensure sustainable operations and maintain financial resilience.” ADVERTISEMENT CONTINUE READING BELOW Tepid growth in South Africa, where the official jobless rate is 32.1%, and a plunge in metal prices is prompting companies to shed jobs to reduce costs. The nation’s platinum producers are in the process of trimming more than 6 000 jobs.
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