NTL to lose 8,200 jobs

Oh well

Update NTL is to shed 8,200 jobs by the end of next year in a bid to reduce its massive £12 billion debt mountain, according to the FT.

Chief exec, Barclay Knapp, told analysts last week that the job cuts would save £275 million.

It also plans to increase the average amount of cash it gets from each customer from £39 a month to £46 a month by the end of next year.

The cableco currently has just under three million punters although its network passes more than eight million homes.

No one from NTL was available for comment by press time. ®

Related Link

NTL looks to job cuts and price increases - FT

Sponsored: Today’s most dangerous security threats