The Financial Times is reporting that mobile operator Vodafone UK will cut 500 jobs in a bid to reduce operating expenses. The cellco’s parent company, Vodafone Group, is looking to cut operating expenses across all of its subsidiaries by GBP1 billion (USD1.45 billion) by 2010/11. Vodafone’s UK operation employs approximately 10,000 people and it is currently the group’s fourth largest market by revenue. The company claimed that the layoffs will allow it to compete ‘more effectively’ in the British mobile sector. According to TeleGeography’s GlobalComms database, Vodafone is the second largest mobile operator by subscribers in the UK, commanding a 24.9% market share at the end of September 2008, only marginally behind O2 UK, which holds 25.4%.