Feeds

NTL warns of 5000 UK layoffs

Spending spree takes its toll

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

NTL has warned it will slash up to 5000 jobs in Britain over the next two years.

The UK cable operator is set to axe up to 2500 during the next year, with the remainder going by the end of 2003.

The staff reduction plans were revealed by NTL UK MD Stephen Carter yesterday - he said that, if everything else remained constant, the business would only need a headcount of 15,000.

The move is a bid to make the company more profitable after its recent spending spree - NTL has bought 11 companies in the UK and Europe in the last 18 months.

The job cuts, which came just hours after NTL upped its earnings forecast for the next two years, add to the 2,300 staff cuts announced earlier this year.

In its revised forecast, the company said it expected to earn £100 million more than predicted for 2001 (now £845 million), and £125 million more in 2002 (£950 million).

It also recorded earnings of £115 million for Q2, adding that its broadband users rocketed 74 per cent to 45,750 during the quarter. ®

Related Stories

NTL raises profit predictions for next 2 years
NTL reports £115m profit for Q2

Reducing security risks from open source software

More from The Register

next story
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
Apple orders huge MOUNTAIN of 80 MILLION 'Air' iPhone 6s
Bigger, harder trouser bulges foretold for fanbois
Bring back error correction, say Danish 'net boffins
We don't need no steenkin' TCP/IP retransmission and the congestion it causes
GoTenna: How does this 'magic' work?
An ideal product if you believe the Earth is flat
Samsung Z Tizen OS mobe is post-phoned – this time for good?
Russian launch for Sammy's non-droid knocked back
Telstra to KILL 2G network by end of 2016
GSM now stands for Grave-Seeking-Mobile network
Seeking LTE expert to insert small cells into BT customers' places
Is this the first step to a FON-a-like 4G network?
Yorkshire cops fail to grasp principle behind BT Fon Wi-Fi network
'Prevent people that are passing by to hook up to your network', pleads plod
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
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.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.