Feeds

Job losses hit C&W profits

£8m bonuses all round

Choosing a cloud hosting partner with confidence

The cost of sacking hundreds of staff during the integration of Thus meant Cable and Wireless reported full year pre-tax profits down 13 per cent today.

In the year to the end of March, the firm earned £233m on revenues of £3.6bn, up from £3.2bn the previous year.

Restructuring losses from last year's £329m Thus acquisition, and Cable and Wireless' "One Caribbean" programme to integrate its Caribbean telcos, hit £189m. Ignoring exceptional costs, earnings were up 36 per cent.

Chief executive John Pluthero, who it was announced today will bag a £8.3m bonus, predicted further job losses, which have so far reached about 600 in the UK.

He said the restructure would lead to "a substantial increase in cash generation" in the next 12 months. Traders however weren't sold on the firm's growth prospects, and sent Cable and Wireless' stock down 10 per cent. ®

Internet Security Threat Report 2014

More from The Register

next story
Mighty Blighty broadbanders beg: Let us lay cable in BT's, er, ducts
Complain to Ofcom that telco has 'effective monopoly'
BT said to have pulled patent-infringing boxes from DSL network
Take your license demand and stick it in your ASSIA
Yahoo! blames! MONSTER! email! OUTAGE! on! CUT! CABLE! bungle!
Weekend woe for BT as telco struggles to restore service
Fujitsu CTO: We'll be 3D-printing tech execs in 15 years
Fleshy techie disses network neutrality, helmet-less motorcyclists
Ofcom tackles complaint over Premier League footie TV rights
Virgin Media: UK fans pay the most for the fewest matches
FCC: Gonna need y'all to cough up $1.5bn to put broadband in schools
Kids need more fiber, says Wheeler, and you'll pay for it
prev story

Whitepapers

Designing and building an open ITOA architecture
Learn about a new IT data taxonomy defined by the four data sources of IT visibility: wire, machine, agent, and synthetic data sets.
5 critical considerations for enterprise cloud backup
Key considerations when evaluating cloud backup solutions to ensure adequate protection security and availability of enterprise data.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Business security measures using SSL
Examines the major types of threats to information security that businesses face today and the techniques for mitigating those threats.