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

300 jobs
Number of planned job losses
Job loss
Announcement Date
10 November 2004
Employment effect (start)
Foreseen end date

Description

Cable & Wireless is cutting 600 jobs and quitting its central London headquarters of 50 years as it carries out another restructuring of its core UK business in the face of fierce competition and flat revenues. It marks yet another restructuring for a business that has pulled out of the US and Japan and cut 1,500 jobs over the past year. Half the jobs will be lost in Britain, where the company is moving to Bracknell, Berkshire next February from the premises on London's Theobalds Road it opened in 1955. The rest of the job losses will fall in France and Germany as C&W cuts it staff in mainland Europe by more than half.


Sources

  • 11 November 2004: The Guardian
  • 10 November 2004: BBC News

Citation

Eurofound (2004), Cable & Wireless, Internal restructuring in United Kingdom, factsheet number 60744, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60744.