3/23/2009 11:06:00 AM
Vodafone freezes staff wages to cut costs further
Independent on Sunday
Vodafone has frozen the pay of 10,000 UK staff in an effort to cut costs. The move comes barely one month after Vodafone announced it was cutting around 500 jobs in the UK, as part of plans to save £1 billion worldwide by March 2011.
According to the Independent on Sunday, Vodafone will also scrap bonuses and is ordering sales representatives to keep their company cars for longer.
Sony Ericsson has forecast heavy losses in the first quarter of 2009. The manufacturer is expecting to record a pre-tax loss of €340m-€390m (£320m – £365m), excluding restructuring charges, for the first three months of the year.
Consumers are buying fewer mobiles in the downturn, and Sony Ericsson said it was expecting unit sales by all mobile makers to fall by at least 10% in 2009.
The Sunday Times
Best Buy will postpone entry into the UK and joint venture with Carphone Warehouse until next spring.
The US consumer electronics company has said market conditions are not right to enter UK and it will postpone until next spring.
The US electronics company made a deal to open 200 stores with Carphone.
Carphone has said it is committed to the joint venture, which will still go ahead albeit later than originally planned.