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London (pte030/30.05.2003/15:53) - Continuing its sweeping restructuring schema, ailing British telecoms operator Cable & Wireless (C&W) http://www.cw.com has announced it will be releasing half of the staff in its London central office - or about 200 employees.
Managers have already been assigned the task of negotiating severance conditions. In addition to the cuts at C&W headquarters, another 100 employees are to be dismissed in the company's subsidiaries.
According to the Financial Times, further radical measures are in planning and will be announced next week. C&W may decide to get rid of its loss-making US operations and keep only its British and Japanese locations.
Last month C&W CEO Graham Wallace was fired for his failed expansion strategy. His successor is Francesco Caio, former head of Italian firm Omnitel.
In 2002 C&W booked a pre-tax loss of 4.43bn pounds (6.7bn euros).
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