March 6, 2002 — (WEB HOST INDUSTRY REVIEW) — Cable & Wireless PLC (cw.com), a telecommunications services provider, which last month reduced fiscal 2002 revenue targets at the Global unit by 10 per cent, announced today that it’s cutting more jobs in a bid lower costs.
Having already eliminated 9,500 jobs in 2001 to tighten costs, the company will fire more employees from its largest unit. The company is yet to announce how many jobs will be cut.
Under Chief Executive Officer Graham Wallace, the London-based company shifted its focus from traditional phone services to providing Internet connections and Web sites for businesses in Europe, North America and Japan. Cable & Wireless on Feb. 20 reduced profit and revenue targets at Global for the third time in a year, citing falling demand for such services.
