Tuesday, May 30, 2006

Vodafone's £15bn loss

Vodafone post the biggest loss in UK history.

What I really like about this story is the feeble attempt to compensate by announcing 400 redundancies. Unless this includes the board of directors, it is unlikely to make much of a dent.

And if the job cuts fail to calm the stockholder's nerves, Arun Sarin's comforting words might help: "Vodafone has met or exceeded expectations". With expectations that low, I can't see how he is ever disappointed.

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