Mobile phone operator Vodafone is planning another round
of cost-cutting measures to counterbalance falling
revenues.
Vittorio Colao, chief executive at Vodafone, is expected to
announce a cost-cutting target tomorrow when Vodafone's interim
results are due, according to the
Financial Times.
Analysts expect Vodafone's operational cost-cutting target of
£1bn by March 2012 to be increased to £1.5bn.
Vodafone is expected to report revenues and earnings for the six
months to 30 September up 8.3% and 2.8% respectively from the same
period the year before.
But some of Vodafone's European businesses, including the UK,
are expected to report declining revenue because consumers are
spending less during the recession.
Vodafone has launched several initiatives in Europe to boost
revenues, including a
mobile micropayment service and a deal to
sell Apple's iPhones from 2010.