Telewest denies plan to axe 1,000 jobs
Telewest has denied a newspaper report that it is to slash a further 1,000 jobs amid further restructuring at the hard-up cableco.
The FT today said the cuts were part of a range of measures - including the rein back on capital spending by a third - designed to tackle its £3.5bn debt.
Telewest will also reduce the number of call centres from eight to five, the newspaper said.
However, a spokeswoman for Telewest said the figures quoted were "speculative" adding that the company had "no specific plan for job cuts".
She conceded that it is Telewest's aim to become a "leaner" operation but this will come about from "natural attrition".
When Adam Singer, Telewest's former CEO, was recently deposed in a boardroom coup his replacement, Charles Burdick, said his job was to concentrate on navigating the company through a 'close to inevitable' debt for equity swap in coming months.
He said it was very important that the company focuses on maintaining its "leadership in broadband data" and a "ruthless focus on costs".
In May Telewest confirmed its intention to axe 1,500 jobs as part of plans to save up to £50 million a year. ®