Tech
Virgin Media will cut 2,200 jobs by the end of 2012, it was announced today.
The axe - which will affect approximately 15% of the cable operator's total workforce - is falling as part of an operational restructure designed to improve cash flow by up to £120m over the period.
"These changes are critical to ensuring Virgin Media is positioned to compete effectively and deliver on our customers' changing expectations," said Virgin Media chief executive Neil Berkett. "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."
Earlier this month, Virgin agreed with its lenders to delay some debt repayments to 2012.
The axe - which will affect approximately 15% of the cable operator's total workforce - is falling as part of an operational restructure designed to improve cash flow by up to £120m over the period.
"These changes are critical to ensuring Virgin Media is positioned to compete effectively and deliver on our customers' changing expectations," said Virgin Media chief executive Neil Berkett. "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."
Earlier this month, Virgin agreed with its lenders to delay some debt repayments to 2012.
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