Tuesday, October 30, 2012

Vodafone may cut 500 jobs in Australia

Vodafone Hutchison Australia, the country's third-ranked mobile phone company, said on Monday it plans to cut up to 500 jobs out of a workforce of 5,000 as part of a restructuring as it struggles with shrinking market share. 

The company, a 50:50 joint venture between Vodafone Group Plc and Hutchison 3G Australia, has 6.8 million customers and operates brands including Vodafone, 3 and Crazy John's. 
Independent telecoms analyst Paul Budde said in a recent report that Vodafone has seen a double-digit slide in revenues this year, while larger rivals Telstra Corp and Singapore Telecommunications unit Optus have seen revenue growth of about 1 per cent. 

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