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, the world's largest mobile-phone company, plans to cut hundreds of jobs in the U.K. to reduce costs amid the economic slowdown,


reports, citing people with direct knowledge of the plan.

The company could announce the measures Tuesday. The jobs will be eliminated at Vodafone's U.K. operations, said the people, without giving a precise number.

Earlier this month, CEO Vittorio Colao said Vodafone was making progress on its plan to cut costs by 1 billion pounds by March 2011 to protect earnings, according to


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. The measures would have "some impact on headcount," he said at the time, declining to say how many jobs may be affected. The cuts would include "network rationalization" and lower spending in areas such as logistics and advertising, he said,



A Vodafone spokesman declined to comment.

Vodafone is co-owner of Verizon Wireless with

Verizon Communications

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This article was written by a staff member of TheStreet.com.