Virgin Media to cut 2,200 jobs
Published: 11 Nov 2008 16:17 GMT
Virgin Media is to shed 2,200 jobs as part of the ongoing restructuring of various parts of the communications company's business.
In a Tuesday statement, the company said the redundancies would be carried out by 2012, with the majority taking place within the next two years. Virgin Media provides broadband, cable TV, mobile phone and landline phone services. No breakdown has yet been provided as to where in the company the redundancies will occur, as consultations with potentially affected staff still have to take place, a company representative told ZDNet UK on Tuesday.
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"These changes are critical to ensuring Virgin Media is positioned to compete effectively and deliver on our customers' changing expectations," said chief executive Neil Berkett in the statement. "Over the coming weeks and months, we will be developing more detailed proposals for their implementation. We recognise that this brings with it significant uncertainty for our people and the communities where they work. Throughout the process, we will be communicating as early and openly as we can."
According to Virgin Media's statement, the redundancies are necessary as a result of the 2006 merger of NTL and Telewest — Virgin Media was, until 2007, known as ntl:Telewest — and acquisition of Virgin Mobile.
The company's third-quarter results, announced last week, showed a small drop in revenues and operating income. At the time, however, Berkett said the business was showing "good resilience" in the face of the economic slowdown.
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