Cable & Wireless plans to cut staff, customers
View at ABC Money
Britain's telecoms company Cable & Wireless Plc. is reducing its staff strength to 3,000 jobs over the next five years while its customer base will be slashed by as much as 90 per cent to 3,000 as part of a restructuring programme the company is planning to undertake.
The telco, in existence since 1860 and offering fixed and mobile voice, data, IP and broadband services to business and residential customers and services to other telecoms companies, has been severely affected by competition and falling prices and it had unveiled plans to split into two business units even as it issued a profit warning for 2006-2007 in January this year.
Britain's telecoms company Cable & Wireless Plc. is reducing its staff strength to 3,000 jobs over the next five years while its customer base will be slashed by as much as 90 per cent to 3,000 as part of a restructuring programme the company is planning to undertake.The telco, in existence since 1860 and offering fixed and mobile voice, data, IP and broadband services to business and residential customers and services to other telecoms companies, has been severely affected by competition and falling prices and it had unveiled plans to split into two business units even as it issued a profit warning for 2006-2007 in January this year.
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