“There is no escaping the fact that this is a real blow for Newbury and the surrounding area. The good news is that Vodafone’s underlying profitability is sound and we must all hope that this is a one-off result and that Vodafone will continue to grow in the future.

Like most people, I am proud that Vodafone is based here in Newbury. I will do all I can to help those who have lost their jobs and they are foremost in my thoughts at the moment.”