7/20/2009 10:26:00 AM
Vodafone to report progress on £1bn cost cutting plans
Vodafone will report progress on its plans to cut costs by £1bn this Friday (24 July), amid fears it could cut more jobs in the UK.
The operator announced 1,800 job cuts last year, which included 500 in the UK. CEO Vittorio Colao refused to rule out further cuts when he addressed the press in May this year.
The company will also report its sales and subscriber numbers for the previous quarter. Last year, operating profits dropped by 45%, as competition heated up in an overcrowded market.
Vodafone is currently considering buying the struggling T-Mobile UK business, according to reports.