Vodafone, one of UK's largest telecom service providers, is planning to lay-off 500 employees from its headquarters located in Newbury, Berkshire, according to a report by the Times.
The report said that the company will cut jobs at its Newbury headquarters under the new £1 billion cost-cutting program which was announced last year. According to the program, Vodafone will be cutting jobs in areas like middle management and back-office functions.
The company has already set the wheels in motion by dissolving the positions of Director of Consumer Sales and Retail Director and has also made job cuts in order to reduce the number of managers it employs for its UK operations.
Vodafone, which currently employs 3000 people in its Newbury headquarters, is the largest employer in the Berkshire town and its history has ties to this place. The articles in the Times mentioned that at one point in time, the company employed 3500 workers in 62 buildings across the town, which became known as Vodafone City.
Vodafone has also been instrumental in boosting the economy of the town, making its tech sector one of the best in the country and catapulting its real-estate prices, which are some of the highest in the country, after London.