Feeds

Job losses hit C&W profits

£8m bonuses all round

Next gen security for virtualised datacentres

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. ®

Boost IT visibility and business value

More from The Register

next story
UK fuzz want PINCODES on ALL mobile phones
Met Police calls for mandatory passwords on all new mobes
Canadian ISP Shaw falls over with 'routing' sickness
How sure are you of cloud computing now?
Don't call it throttling: Ericsson 'priority' tech gives users their own slice of spectrum
Actually it's a nifty trick - at least you'll pay for what you get
Three floats Jolla in Hong Kong: Says Sailfish is '3rd option'
Network throws hat into ring with Linux-powered handsets
Fifteen zero days found in hacker router comp romp
Four routers rooted in SOHOpelessly Broken challenge
New Sprint CEO says he will lower axe on staff – but prices come first
'Very disruptive' new rates to be revealed next week
PwC says US biz lagging in Internet of Things
Grass is greener in Asia, say the sensors
Ofcom sees RISE OF THE MACHINE-to-machine cell comms
Study spots 9% growth in IoT m2m mobile data connections
O2 vs Vodafone: Mobe firms grab for GCHQ, gov.uk security badge
No, the spooks love US best, say rival firms
Ancient pager tech SMS: It works, it's fab, but wow, get a load of that incoming SPAM
Networks' main issue: they don't know how it works, says expert
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
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.