Vodafone plans to axe 11,000 jobs after new chief executive Margherita Della Valle admitted the struggling telecoms giant's performance was “not good enough”. 

Ms Della Valle, who was appointed permanent chief executive in May, announced a turnaround plan on Tuesday aimed at making the Reading company a “simpler” organisation.

Job cuts will fall across the company, including in Britain. Redundancies will be spread over the next three years.

Announcing the plan, Ms Della Valle said: “Our performance has not been good enough. To consistently deliver, Vodafone must change.

“We will simplify our organisation, cutting out complexity to regain our competitiveness.”

The turnaround plan was announced alongside results showing Vodafone's revenues flat-lined last year. The company said performance slowed “in line with expectations”.