The move to cut jobs could be made as early as Tuesday, said the report.
The mobile phone operator, which employs 10,000 people, has previously said it will boost free cash flow by cutting 1 billion pounds of costs. Vodafone declined to comment on specific job cuts.
Shares in Vodafone climbed 1.59 percent at 127.5 at 2:46 p.m., in line with a 1.7 percent rise in the European sector <.SXKP>.
(Reporting by Lorraine Turner)