Vodafone to Cut 500 Jobs in U.K.

Updated from 5:41 a.m. EST

Vodafone(VOD Quote) said Tuesday it will eliminate up to 500 jobs, or about 5% of its work force in the United Kingdom, as part of a cost-cutting program.

Staff at Vodafone, the world's largest mobile-phone company, were informed of the cuts on Tuesday, the company said. The cutbacks include 170 positions at company headquarters in Newbury, England.

"The majority of savings will be achieved by taking operating costs out of the business, however, there will also be a reduction of approximately 500 jobs across the business," the telecommunications company said. ...