Vodafone posts huge loss
4 June 2006Vodafone, a large mobile phone company in the UK, just posted the largest corporate loss in the history of the UK. Now that’s serious. The loss of 14.7 billion pounds ( that’s about 27.7 billion dollars – yes that’s billion with a “b” ) has prompted Vodafone to cut jobs, and speed along the lovely outsourcing that we’re all so fond of.
Most of Vodofone’s loss can be attributed to a huge one-time charge, so this is likely not a permanent situation, just a tough spot they’re in now.