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Vodafone stock sinks as company cuts 11,000 jobs

Yahoo Finance

Yahoo Finance Live discusses a drop in shares of British telecommunications company Vodafone after the company announced 11,000 job cuts over the course of three years..

Video transcript

JULIE HYMAN: Let's take a look at a trending ticker that we're watching today. It's Vodafone. The US shares, as well as the European shares, sinking after the company announced 11,000 job cuts over the course of three years. The British telecom company's CEO said performance, quote, "has not been good enough," after forecasting a decline in free cash flow for the full year. The share's [? up ?] 9 and 1/2%.