Telefonica O2 aims to close 40 of its 490 shops in the UK over the next three months with the loss of 400 jobs, according to a report in The Times.  The closures are targeted at the company’s smaller stores says the report. New hiring means that “retail numbers will be the same at the end of the forthcoming redundancy process as current levels”, says The Times. The company is looking to recruit technology specialists, known as “gurus”, for its retail outlets.