NTL Jobs Cull Expected Following Acquisitional Spree

NTL is set to announce a series of job losses, according to a report in the Financial Times. The cable group is expected to cull jobs as part of a cost-cutting programme to save £200m within the next two years.

Following an acquisitional spree over the last few years the group has now become “bloated”. Cutting staff numbers will allow NTL to maximise profits form its recent expansion, in particular its takeover of Cable and Wireless Communications in 1999 (see NTL Spends £8.2bn On Cable & Wireless Communications).

The group reports first quarter financial results next Thursday.

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