C&W Set to Cut Nearly Half of Workforce

London -- Cable & Wireless (C&W), a U.K.-based
telecommunications company, announced that it is planning to
eliminate as many as 3,000 jobs -- nearly half its workforce -- over
the next five years. The company said the massive restructuring
would see it reduce its customer based by as much as 90% as it
focuses on larger clients, such as Lloyds TSB Group and
Volkswagen Group. Just last month, C&W made headlines when it
unveiled plans to split into two business units and announced that
CEO Francesco Caio would leave at the end of March.
http://www.cw.com/media_events/media_centre/worldindex.html