Vodafone might cut as many as 6000 jobs

Vodafone might cut as many as 6000 jobs

Mobile phone service provider Vodafone is rumored to be considering cutting as many as 6000 jobs to cut costs. A newspaper report claims that the company would be coming out with a comprehensive cost-cutting plan this week, which might include massive job cuts.

The report in Sunday Telegraph also said that the company would announce pre-tax losses of 15 billion pounds. If this happens, it would be the largest loss declared by a corporation in UK.

Vodafone would now concentrate on targeting their fixed-line rivals for increasing sources of revenues. Mobile market has become competitive enough for them to think about other sources of increasing income in the coming years.

They might even consider outsourcing more of their processes to IT specialists such as IBM and Hewlett-Packard. However, job cutting might be an easier way out as market analysts believe that the company can easily trim its headcount by 10 percent.