Feeds

Energis axes 350 jobs

More telco gloom

  • alert
  • submit to reddit

High performance access to file storage

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. ®

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.