Apparently Vodafone is preparing to initiate a cost cutting initiative that will save them £1 billion as new group CEO Vittorio Colao fulfils on his saving promise.

It is expected Colao will initiate the plans throughout 09 and will include effecting Vodafone technology and supply chain department, and also could mean job losses as well.

Apparently, the UK, Spain and Italy are the costliest areas for Vodafone so Colao will be taking a real close look at these areas, and no doubt if that £1 billion can’t be saved in just those areas then others will fall under scrutiny to achieve the target.

Source — mobile today