Easynet axes 1 in 20 staff
55 will get boot
Easynet's new private equity owners plan to make one in 20 staff redundant, they announced this week.
Some 55 jobs are to go as the firm aims to focus on corporate networking customers. Insiders fear more roles are yet to be cut.
They said the first casualties include the UK hosting team, the global marketing director and head of UK small business. A statutory consultation period ends 16 November.
"These transformation plans include a number of important business, and associated organisational changes, to ensure we deliver greater levels of efficiency and improved operational performance," an Easynet spokeswoman said.
Sky sold Easynet to its managers, who were backed by Lloyds Development Capital, for £100m in July. Now established as a home broadband provider, the satellite broadcaster has no interest in competing in corporate networking. ®
Is that private finance as in actually a load of borrowed money on the assumption that somewhere there is someone who allegedly has the funds to pay back the loans.
Or unusually, is it actually a lot of people with overflowing bank accounts wanting to invest in a company's future?
It's looking more likely I'll have to switch from UKOnline then.
Shame, as it's a bloody good service, albeit at a slightly higher price.
I used to use them for dialup internet back in the day, and hosted a few of my early sites with them. Their support was good (you'd usually talk to the same person each time - try that one BT!) and they had some good ideas like FreeNetName (remember them?).