Recent reports from numerous sources have alleged that Vodafone plans to cut a further 500 jobs from its Newbury headquarters as part of its drive to cut costs. Last year Vodafone announced its intentions to reduce costs by £1 billion and this involved cutting 500 jobs. After an early success in its cost reduction drive, Vodafone increased its target to £2 billion by 2012 – so it follows that a further 500 jobs losses may occur. We’ve already seen a spate of top-level managers being given the push even though Vodafone has tried to keep it reasonably low-key.

So far Vodafone has declined to comment.