Jobs will be lost as Vodafone doubles its cost-savings programme

Posted By Martyn Warwick , 10 November 2009 | 0 Comments | 0 people rated this an average of 3/5

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Tags: mobile Finance

Job cuts loom at Vodafone as the mobile operator this morning reported a sudden drop in revenues from its UK business and announced that it is to double-up its cost-cutting programme from what was widely seen as an ambitious £1 billion to an even more ambitious £2 billion over the next two years. It means more redundancies will be all but inevitable. Martyn Warwick reports.

Vodafone is playing down the likely job losses. A spokesperson said, "There will be some implications for jobs but that will not be the focus. The emphasis is around technology." The cost reduction regime will focus on "procurement" and "cutting back on network equipment" - a strange thing for one of the world's biggest mobile operators to contemplate.

Vodafone's figures for the half-year to September 30 show that although "interim pre-tax profits" grew by 3.6 per cent to £5.48 billion, revenues fell back by 3 per cent to £21.8 billion.

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Jobs will be lost as Vodafone doubles its cost-savings programme

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