Cable & Wireless unveiled another round of job cuts today, after warning it planned to reduce its headcount in the UK and continental Europe by 600.
The telecoms carrier will close its headquarters in London, where it employs 300 people, and relocate staff to its operational base in Bracknell. The company will also change the structure of its UK business as part of attempts to cope with challenging trading conditions in its home market.
The announcement came as C&W announced a £14 million rise in underlying half-year profits to £199 million, despite a fall in revenues to £1.62 billion, from £1.73 billion a year earlier.
Cable & Wireless has already reduced headcount dramatically, cutting staff numbers in the UK by 23 per cent over the last 18 months to about 4,300. It has not disclosed the exact locations of today's planned job losses.