Vodafone may relocate abroad

This comes after Britain voted to ‘Leave’ the EU

Not many people like Vodafone judging by the comments on a post I put out about them a few weeks ago where many customers had been overcharged. However, no one deserves to be made redundant, especially when it is because a company has decided to relocate.

Vodafone have warned it could relocate its head office outside the UK following the referendum.

Their warning depends on whether negotiations for a post-Brexit Britain do not offer “freedom of movement” for people, capital and goods.

Vodafone released a statement saying;”The UK’s membership of the European Union has been an important factor in the growth of a company such as Vodafone. Freedom of movement of people, capital and goods are integral to the operation of any pan-European business.”

Vodafone said their European business last year accounted for 55% of their profits, whilst the UK counted for just 11%.

Vodafone currently employ 108,000 staff and around 462 million customers.

Will this affect you?