Vodafone plans to cut 11,000 jobs worldwide over the next three years as part of a turnaround plan. The announcement came as new CEO Margherita Della Valle lambasted the company’s performance as simply “not been good enough” and said there would now be a focus on simplifying the organisation and cutting out complexity. Vodafone employs over 100,000 people globally but did not say how many of its 12,000 UK workers would be affected by the cuts. In recent years the telecoms giant has struggled with higher energy bills which are driving up costs and impacting profitability. It has also seen weaker sales in Germany, its biggest market, as well as Italy and Spain where it has struggled to keep pace with rivals. The lacklustre performance has seen the share price slump to their lowest level since 1997.