Vodafone to cut hundreds of UK jobs

Vodafone, the world's biggest global operator, will reportedly cut hundreds of jobs in the UK in an attempt to reduce costs by £1 billion ($1.45 billion).

The company is expected to make the announcement on Tuesday, and unions are bracing for significant job losses, FT.com reported.

In November, Vodafone announced it would cut £1 billion from its operating expenses, which currently total £22 billion. Concurrently, the same time the company cut its full-year revenue target for the second time.

Vodafone this month posted lackluster Q3 results, revealing that organic revenue had decreased 1%.

The company employs around 10,000 people in the UK, and 80,000 people globally.