First it was the BT group, then it was the Royal Bank of Scotland, and then to much surprise it was General Motors. And now to everyone’s shock, the world’s biggest mobile company Vodafone has decided to fire 10,000 people from their jobs in Britain. This decision came as a huge shock to everyone including the UK government as they thought that the mobile industry would not succumb to the pressure of recession. They were quite confident that they will hold themselves strongly against this vicious tidal wave called global economic meltdown.
The CEO of Vodafone said that they have discovered various means to reduce their expenditure this tenure, to cope with recession. He said that the company is trying hard to cut costs in back office and other IT functions. They are also intending to advertise a lot less this year and keep tight control on logistics as well.
Even when analysts hoped against hope that the telecom sector should survive this “Great Depression” Vodafone already knew why it was facing losses, as people were not upgrading their devices and were reducing the number of calls being made.
A lot of people wait what their destinies have in store for them later in the coming months.
