Fergie's Tech Blog

UK: Vodafone Could Cut 6,000 Jobs

An AFP newswire article, via Yahoo! News, reports that:

Mobile phone giant Vodafone will this week disclose details of a cost-cutting program that could lead to its axing 6,000 jobs from its workforce worldwide, a newspaper said.

The Sunday Telegraph added that Vodaphone's chief executive Arun Sarin will Tuesday announce pre-tax losses of 15 billion pounds (21.8 billion euros), the biggest in Britain's corporate history, caused by a writedown of assets.

The group is expected to announce it intends to bolster revenue by targeting its fixed-line rivals, the newspaper said. It will offer a fixed-line broadband product, involving a partnership agreement with another supplier, it said.

posted by Fergie @ 5/28/2006 12:08:00 PM