Vodafone makes largest loss in UK history

MORE THAN 400 jobs have been axed at UK mobile phone outfit Vodafone, after the firm announced the largest annual loss in UK corporate history.

The company admitted losing a whopping £14.85 billion in a marketplace it said it was finding "increasingly challenging".

The jobs will go at the Vodafone HQ in Newbury and the company will try to outsauce its way out of trouble.

Chief executive Arun Sarin is the winner of the mindless-optimism-in-the-face-of-overwhelming-odds award with his comment that Vodafone had managed a "good performance" despite the loss.

He claimed the group had outperformed its competitors but the market was tough. "The question for us is, how do we stay one step ahead of the game?" he said, looking over his shoulder to realise everyone else was up in front.

Noted telecom industry daily The Sun, says that Vodafone hopes to "get into the broadband market" to combat competition.

Which probably has somthing to do with that 3G thingee that people keep banging on about. µ

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