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ntl is to shed thousands of jobs over the next two years as part of a cost-cutting initiative, the FT, reported today.

The newspaper said that management at the cableco-cum-telcoms outfit have been holding talks with employees about the reorganisation of the business.

That, of course, means lots of things - but it also means job cuts. And if ntl wants to save £200 million a year then that means lots of jobs. Ouch.

It's understood that details of ntl's cost-cutting measures will be published next week when the outfit reports its Q1 results.

No one from ntl was available for comment by press time but it sounds incredibly familiar to what's happening at WorldCom - which has been discussing job cuts in the UK with staff since the beginning of the year.

It intends to announce by the end of the month plans wave "cheerio" to 832 employees. ®

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NTL may cut thousands of jobs in cost-savings drive - FT

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