News
[Broadband]| Tuesday 15th January 2002 |
Marconi wields the axe again
5:34PM, Tuesday 15th January 2002
UK telecoms equipment manufacturer Marconi is once again to axe jobs.
Around 4,000 jobs are to go internationally, with the UK taking on 1,000 of these. Earlier downsizing of UK operations is cited as the reason UK cuts were not greater.
The announcement brings the total of Marconi job losses to 13,000, leaving the company with a staff of 25,000, of which 7,000-8,000 are in the UK.
Marconi said its debts had dropped from last year's £4.3bn high to its current £3.5bn deficit, and will fall to £2.9bn by the year-end when further sales of non-core assets are complete.
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