Vodafone In Trouble

Telco records the largest annual loss in UK business history.

It may just be me but a few years it seemed the majority of people subscribed to Vodafone. Still, times change and my word it has shown in the company’s latest financial figures.

(Image:vodafone)


Today the suffering telco reported a staggering £14.85 ”billion” annual loss, the largest in UK corporate history and something even downfall champs like Marconi never topped. Over 400 jobs will go on the back of it and a major outsourcing drive will begin as the company desperately drives to cut costs.


Bruised and battered Vodafone Chief Exec Arun Sarin tried to paint a happy picture and was quoted in hack tabloid The Sun, saying group performance remained good despite operating in an “increasingly challenging marketplace”.


The Big Brother/David Beckham/Royals/Soap Opera obsessed rag went on to suggest the company will look to move into the broadband sector to boost profits. Which is a little like British Telecom trying to save itself by investing in Royal Mail.


Link:
Vodafone UK