Vodafone raises profit target after cutting 3,000 European jobs

Vodafone has raised its profit target after wielding the axe on thousands of roles across Europe in the first half of the year. The telecommunications giant said it had cut 3,000 roles in the region between April and September 2026, helping drive savings of €200m (£167m). The FTSE 100 group also confirmed it would cut an additional 2,300 jobs in Germany over two years as it looks to turnaround performance in the market. Earnings fell 2.4 per cent in Germany during the first half. Group chief executive Margherita Della Valle said operations in the market were “not yet where it needs to be”. But the firm upgraded its full-year targets across earnings and cash flow after revenue jumped on the consolidation of Safaricom, Vodafone Three and Telekom Romania. Group-wide income increased 11.4 per cent to €21.9bn. The firm said it expected earnings before tax to come in at €13.2bn to €13.4bn for the year, following a previous range of €13.0bn to €13.3bn. Cash flow was upgraded t