Feeds

Colt to shed 1,000 jobs?

Big cuts

  • alert
  • submit to reddit

Reducing the cost and complexity of web vulnerability management

Colt Telecom could be about to shed 1,000 jobs amid the continuing difficult business environment facing the industry.

According to insiders the jobs are due to go over the next couple of months with employees bracing themselves to find out if they are among those to face the chop.

The Register understands that big losses could be seen in Colt's European operations, with some satellite offices reduced to little more than skeleton staffing levels.

In the six months to the end of June, Colt reported that sales had increased to £505.05m against £433.5m during the same period the year before.

It made a pretax loss before exceptionals of £129.5m against £108.2m during H1 2001.

In the first six months of 2002 the company reduced its workforce by 214 employees and shed 156 temporary and contract workers.

In a statement accompanying its H1 results in July Colt said it would "continue to improve [its] operating efficiencies".

Colt employs around 5,000 staff.

No one from Colt returned phone calls or was available for comment at the time of writing. ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Wanna keep your data for 1,000 YEARS? No? Hard luck, HDS wants you to anyway
Combine Blu-ray and M-DISC and you get this monster
US boffins demo 'twisted radio' mux
OAM takes wireless signals to 32 Gbps
Apple flops out 2FA for iCloud in bid to stop future nude selfie leaks
Millions of 4chan users howl with laughter as Cupertino slams stable door
No biggie: EMC's XtremIO firmware upgrade 'will wipe data'
But it'll have no impact and will be seamless, we're told
Students playing with impressive racks? Yes, it's cluster comp time
The most comprehensive coverage the world has ever seen. Ever
Run little spreadsheet, run! IBM's Watson is coming to gobble you up
Big Blue's big super's big appetite for big data in big clouds for big analytics
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
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?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.