Feeds

Marconi set to announce loss of 3,000 jobs

1,200 UK workers face redundancy this week

  • alert
  • submit to reddit

Boost IT visibility and business value

Marconi is expected to announce the loss of 3,000 jobs , or six per cent of its workforce, as part of a plan to reduce costs forced upon it by a slowdown in sales in the networking market.

About 1,200 people are set lose their jobs in the UK, according to a reports in several Sunday papers. The FT has said letters about the job cuts were sent out on Friday. Many of Marconi's 55,000 staff are based in the UK.

Reports suggest that Marconi will meet unions today and that the majority of job cuts in the UK will be at manufacturing plants at Liverpool and Coventry.

Marconi's full-year results up to the end of March are thought to be in line with estimates of £710m, but there is still pressure on the firm to reassure investors in light of the problems faced by the rest of the industry.

The telecommunications equipment manufacturing sector has been hit by a sudden falloff in sales that has resulted in widespread job cuts at firms throughout the networking sector including Cisco Systems, Nortel Networks and Lucent. ®

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.