Vodafone (LON:VOD) is set to create 1,300 new jobs across the UK over the next two years, The Times has reported. The move is part of an investment drive aimed at improving services at the telco’s home market.
Vodafone’s share price closed little changed on Friday, adding 0.22 percent to 203.85p, largely in line with gains in the broader market, with the benchmark FTSE 100 index climbing 28.12 points to end the session 0.38 percent higher at 7,343.08. The telco’s shares have lost more than six percent of their value over the past year, but have gained about two percent in the year-to-date.
The Times reported yesterday that Vodafone planned to recruit about 1,300 staff across northern England, the Midlands and Scotland as part of a £2-billion UK investment programme. Further 900 roles are set to be created by third-part partners.
The move will come with the telco looking to move on from the multimillion-pound fine it received in October last year for mis-selling and complaints errors. The newspaper quoted Nick Jeffery, chief executive of Vodafone’s UK business, as commenting that the rollout would make a ‘real difference’ to its service.
Reuters noted in its coverage of the news that the blue-chip telco has invested £2 billion in its British network in recent years and was in the middle of a new £2-billion investment phase running from 2016-19 to improve its customer offering for its around 18 million British customers.
As of March 11, the consensus forecast amongst 33 polled investment analysts covering Vodafone for the Financial Times has it that the FTSE 100 company will outperform the market. According to MarketBeat, the blue-chip telco currently has a consensus ‘hold’ rating and an average price target of 232.41p.