Another huge round of job cuts is expected at Cable & Wireless Plc after the London, UK-based carrier asked trade unions for a meeting within the next three weeks. With revenue on the slide and shares that have lost two-thirds of their value in the past year, cost-cutting remains the only route to an improved performance.

An official of the Communications Workers Union told Reuters that employees were worried about another round of lay-offs though the company refused to comment ahead of the meeting. C&W currently has a workforce of around 25,000, half of whom work in its global operations, with the remainder at its regional telecoms unit.

Earlier this month, C&W said it expected second-half revenue in its global business to decline by about 6%, and that it was suffering from ruthless price-cutting in a sector itself suffering from considerable over-capacity.

© ComputerWire