Vodafone said Tuesday it would cut 11,000 jobs over three years, as the telecoms company unveiled a turnaround plan to revive its fortunes.

The job cuts would affect the firm's UK headquarters and operations in other countries, the company added in a statement.

"Our performance has not been good enough," CEO Margherita Della Valle said. "We will simplify our organization, cutting out complexity to regain our competitiveness."

— This is a developing story and will be updated.