The Virgin Media cable group will be slashing 2,200 jobs, or 15 per cent of its workforce, by 2012. This will result in annual cost savings of more than pound 120 million by 2012.
The group said it would not start cutting jobs until the fourth quarter of next year, with the majority of the role reductions taking place before the end of 2010. It also said the cuts were not related to the strained economic environment.
Virgin Media was formed through the merger of Telewest and ntl in 2006; Virgin Mobile was later acquired by it. The group has already reduced 4,000 staff jobs after the ntl and Telewest deal.
Image: Virgin Group's Richard Branson with US model Dita von Teese at the launch of the Virgin Media service in Covent Garden, in central London. | Photograph: Leon Neal/AFP/Getty Images
Also read: Top challenges for employers
| Live updates on money.rediff.com |
|
Advertisement
