Feeds

Energis axes 350 jobs

More telco gloom

  • alert
  • submit to reddit

The essential guide to IT transformation

Energis is axeing up to 350 jobs to cut around £20 million a year in overheads.

More than 250 of the jobs will be lost in the UK with the rest coming from at the business telco's European operations.

At the moment it's not known where the axe will fall and indications of the cuts won't be known until the company begins its consultation period with employees.

Staff were told of the cuts - which come on top of 100 redundancies announced earlier this year as part of Energis' European integration programme - on the day the company announced its interim results for the six months to September 30.

Turnover for the six months ended September 30 was up from £368 million in 2000 to £487.9 million this year.

Pre-tax losses over the same period more than doubled from £45.3 million to £96.7 million.

David Wickham, chief exec of Energis, said: "The market for business telecoms has changed fundamentally compared with last year.

"We have also witnessed a slow-down in the growth of usage of telecoms by some customers and, in a few cases, a reduction, reflecting these customers' current levels of trading activity," he said.

However, the company is confident that a change of strategy which sees it provide telecoms services and products that help other companies cut costs will lead to increased sales.

By early afternoon Energis shares were up 3.5p (4.27 per cent) to 85.5p. ®

5 things you didn’t know about cloud backup

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Netflix swallows yet another bitter pill, inks peering deal with TWC
Net neutrality crusader once again pays up for priority access
Judge nixes HP deal for director amnesty after $8.8bn Autonomy snafu
Lawyers will have to earn their keep the hard way, says court
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
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.
Backing up distributed data
Eliminating the redundant use of bandwidth and storage capacity and application consolidation in the modern data center.
The essential guide to IT transformation
ServiceNow discusses three IT transformations that can help CIOs automate IT services to transform IT and the enterprise
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.