Feeds

Telewest axes 1,500 jobs

Boss wants 'leaner Telewest'

  • alert
  • submit to reddit

Internet Security Threat Report 2014

The UK's second biggest cableco, Telewest, is to slash 1,500 jobs as part of plans to save up to £50 million a year.

Publishing its first quarter results today Telewest chef exec, Adam Singer, said: "I am announcing measures designed to create an even leaner Telewest, and bring forward a break-even cash position. Regrettably, this will result in significant job losses."

The cableco's headcount will fall from around 10,500 to 9,000 following the restructuring. Up to two thirds of of the redundancies could be compulsory, according to reports.

Looking at the numbers, total turnover for the three months to the end of March was up 4 per cent to £334 million compared with Q1 2001.

Pre-tax losses for the quarter were £166 million, down 21 per cent on the corresponding quarter a year earlier.

The cableco said debt stood at around £5 billion.

Telewest also announced that cable modem broadband numbers continued to grow boasting a total of 148,000 broadband subscribers. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
BT said to have pulled patent-infringing boxes from DSL network
Take your license demand and stick it in your ASSIA
Right to be forgotten should apply to Google.com too: EU
And hey - no need to tell the website you've de-listed. That'll make it easier ...
prev story

Whitepapers

Driving business with continuous operational intelligence
Introducing an innovative approach offered by ExtraHop for producing continuous operational intelligence.
Why CIOs should rethink endpoint data protection in the age of mobility
Assessing trends in data protection, specifically with respect to mobile devices, BYOD, and remote employees.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Protecting against web application threats using SSL
SSL encryption can protect server‐to‐server communications, client devices, cloud resources, and other endpoints in order to help prevent the risk of data loss and losing customer trust.