Feeds

Job losses hit C&W profits

£8m bonuses all round

Internet Security Threat Report 2014

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. ®

Providing a secure and efficient Helpdesk

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
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.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.