Cable & Wireless, the UK-based telecoms group, is preparing to axe 3,000 jobs within its Global division to stem losses estimated at £300m sterling (€471m) a year, it was reported yesterday.
The announcement is expected this Wednesday when the company unveils its half-year results.
As part of the £1bn sterling (€1.5bn) restructuring, C&W is expected to announce its withdrawal from low-margin web hosting and data services for small and medium-sized companies, concentrating instead on large contracts with multinationals. The jobs cuts would reduce the Global division’s workforce by 25pc. The US business is expected to be worst hit.
Cable &Wireless employs 175 people in Ireland. Of these, 25 work in the Global division, with the remainder employed in the Systems Integation arm, which provides network installation and integration services to corporate customers.
A spokesperson for C&W Ireland declined to comment on the report, describing it as “speculation”.
By Brian Skelly