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Vodafone to Slash CostsVodafone to Slash Costs

Cuts expected as economic slowdown bites

Michelle Donegan

November 10, 2008

1 Min Read
Vodafone to Slash Costs

9:00 AM -- All eyes are on Vodafone Group plc (NYSE: VOD) as the world's largest mobile operator by revenue is expected to introduce new cost reductions tomorrow when it reports its half-year interim results.

Analysts expect CEO Vittorio Colao to explain to what extent the consumer spending slowdown in Europe affects Vodafone and introduce a plan to cut up to £1 billion in costs, which could involve about 20 percent of its European workforce.

Vodafone's share price tumbled in July after it announced that the economic slowdown would dampen full-year 2008 revenues. (See Vodafone Wobbles on Outlook.)

— Michelle Donegan, European Editor, Unstrung

About the Author(s)

Michelle Donegan

Michelle Donegan is an independent technology writer who has covered the communications industry for the last 20 years on both sides of the Pond. Her career began in Chicago in 1993 when Telephony magazine launched an international title, aptly named Global Telephony. Since then, she has upped sticks (as they say) to the UK and has written for various publications including Communications Week International, Total Telecom and, most recently, Light Reading.  

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