Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Information / Communication
Information Communication Services
Telecommunications
61 - Telecommunications

1,500 jobs
Number of planned job losses
Job loss
Announcement Date
6 June 2003
Employment effect (start)
Foreseen end date

Description

The extensive restructuring plan is intended to pull the company out of a two-year slump that has followed the bursting of the hi-tech bubble, explains the group which occupies the second place in terms of shares of market behind BT group. Cable & Wireless also said that it was suspending the dividend payout to shareholders and pull out of the US market.


Sources

  • 6 June 2003: The Guardian

Citation

Eurofound (2003), Cable & Wirless, Internal restructuring in United Kingdom, factsheet number 60044, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60044.