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Telegraph: Vodafone To Slash Global Workforce By Up To 6,000.

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'Vodafone to slash global workforce by up to 6,000':

http://www.telegraph.co.uk/money/main.jhtm...28/cnvoda28.xml

Arun Sarin, the chief executive of Vodafone, will this week announce details of a radical cost-cutting programme that could lead to the giant mobile operator slashing its workforce by up to 6,000 posts.

Some 500 jobs may be lost at the group's headquarters in Newbury, including 200 redundancies that have already been announced. Most of the remaining posts will be outsourced to IT and network partners.

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Arun Sarin, the chief executive of Vodafone, will this week announce details of a radical cost-cutting programme that could lead to the giant mobile operator slashing its workforce by up to
6,000
posts
.

As strong employment numbers continue to underpin higher house prices and MEW :lol::lol::lol:

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Due to a somewhat large loss:

http://uk.biz.yahoo.com/28052006/140/vodaf...-20bn-loss.html

Vodafone Expected To Post £20bn Loss
Vodafone is expected to announce cost-cutting measures alongside its full year results. This week's results are expected to show a loss of about £20bn - thought to be the largest loss ever by a British company, The Sunday Times has reported.

:o

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As a technologist I, IMPO, feel they have gone down the wrong route with the technologies they are pursuing re the next generation of mobile devices and how content is delviered to them. This, you can argue, is true of most of the UK mobile phone companies though.

As an IT contractor I have had approaches from them over the years re roles and the mentality has always struck me as one of 'control' and the company not being dynamic in so much their HR people seem more concerned on getting you in as a permie, and hence 'controlling' you, rather than on getting the best people in for a project.

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As a technologist I, IMPO, feel they have gone down the wrong route with the technologies they are pursuing re the next generation of mobile devices and how content is delviered to them. This, you can argue, is true of most of the UK mobile phone companies though.

As an IT contractor I have had approaches from them over the years re roles and the mentality has always struck me as one of 'control' and the company not being dynamic in so much their HR people seem more concerned on getting you in as a permie, and hence 'controlling' you, rather than on getting the best people in for a project.

Nothing good ever came out of Newbury, I wouldn't shed a tear if Voda went to the wall

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That's really bolloxed up my VOD.L stock :D

Well as Vodafone stock has fallen in the last few years from over 3quid a pop to 1.19 a lot of people are suffering.

What really p*sses me off about this situation is that they will now being paying a "fixed price" to whomever they outsource the employees to, wheras it's actually cheaper to keep the knowledge in house... but what about the shareholders? somebody has to think about the shareholders! the poor wee mites. :ph34r:

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Looks like we are entering the end game then.

Probably a good buy at current levels, they do know what they have to do from here in.

In Japan, sending a picture message on Vodafone = 5p/10p. UK Vodafone = 50p.

Wonder why that caught on like wildfire over in Asia and people keep everything on their phones to show to their mates over here... Same with internet access, ringtones and everthing else - they've priced it out of becoming an everyday thing over here.

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Nothing good ever came out of Newbury, I wouldn't shed a tear if Voda went to the wall

Just to point out that all that fall is from downgrading asset valuations of around $30billion. They over-payed for mobile operators during the the dot-com boom and now are adjusting their price to reflect their worth. They recently sold vodafone japan for £8.9bn (which is to be returned to shareholders) and are looking to sell verizon stake for $50bn.

Operating profit & cash flow will be the most watched figures which should provide good figures. Hope you all topped up on your shares last week :D !

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Guest X-QUORK

RealistBear, Some of what you post is very interesting, but you need to exercise a bit more editorial control IMO, otherwise you risk coming across as someone desperately clutching at straws of bearish news.

This is a classic example of the press getting the figures hopelessly wrong. Here's a quote from the Telegraph:

According to a recent note from analysts at Lehman Brothers, Vodafone has room to cut its headcount by 10pc and achieve 15pc savings in IT and network operations through outsourcing.

If staff levels were reduced by this amount, some 6,000 employees could lose their jobs in total.

Most people don't realise that the Vodafone Group is very much an international company, with the UK company employing about 15% of the total 60,000 workforce. I very much doubt Vodafone UK is about to sack 6000 of it's 10,000 workers, if anything this loss will be spread across the whole of the Group, and that's only assuming Vodafone decide to cut the full 10% as recommended by Lehman Brothers.

I'd be willing to bet the UK will see around 500-1000 job losses at most, and the majority of those employees will probably be given direct employment by the outsourcing company.

Messychopper,

Your comment:

Nothing good ever came out of Newbury, I wouldn't shed a tear if Voda went to the wall

A bitter and twisted ex-employee perhaps? Or did you have problems getting that handset upgrade? Either way, your comment demonstrates some serious character defects.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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