Mobile telecoms operator Vodacom says it will be retrenching about 113 Vodacom South Africa employees across various levels, including management and senior management.<\/p>\n\n\n\n
The group said this is due to a decision to restructure parts of its business.<\/p>\n\n\n\n
\u201cThis step is part of our concerted effort to ensure that the company remains fit for purpose to support our strategic shift toward becoming a leading technology company.<\/p>\n\n\n\n
\u201cWhile we deeply regret the impact that this has on colleagues, we are fully committed to supporting them through this transition.<\/p>\n\n\n\n
\u201cWe are confident that these changes, while difficult, help position the company for long-term sustainability,\u201d Vodacom said.<\/p>\n\n\n\n
The staff cuts align with the group’s five-year Vision 2030 strategy, which focuses on return on capital and EBITDA growth targets.<\/p>\n\n\n\n
Vodacom wants to see double-digit growth in earnings before interest, taxes, depreciation, and amortisation (EBITDA) between 2025 and 2030.<\/p>\n\n\n\n
It also wants to ensure a return on capital employed (ROCE) of 23.1% and to achieve 75% smartphone penetration by 2030 from its current level of 63%.<\/p>\n\n\n\n
Part of the strategy is to also increase its customer base by 50 million people. Together these targets would raise the group’s revenue to R200 billion by 2030.<\/p>\n\n\n\n
.<\/p>\n","protected":false},"excerpt":{"rendered":"
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