A bad day today for Vodafone, who racked up the largest ever loss in British corporate history. A loss of bearly £14.9 billion ($27.9 billion) was incurred after the company wrote off £23.5 billion of the value of overseas businesses. They also plan to cut 400 jobs at their HQ in Newbury in an attempt to save cash.
Link – Sky News
Vodafone Announce Huge Losses
May 30, 2006