Cable & Wireless staff benefit from profits boost with extra holiday

Cable & Wireless has just given its employees around the world an extra day off after reporting an increase in half-year profits, Personnel Today has learned.

All 5,000 staff across Europe, Asia and the US will also receive an advance on their end-of-year bonuses, according to a senior HR manager, thanks to a 26% rise in profits in the six months to the end of September.

The telecoms giant, currently the second largest in the UK, was the only company in its industry to have delivered on predicted results, faring better than BT which has just announced 10,000 job cuts worldwide.

Sarah Hawkins, HR business partner in the business change team, told Personnel Today: "We announced our half year financial results last Monday and delivered a strong performance, with revenue up 4% in our EAUS [Europe, Asia & US] business. As such, our chief executive, Jim Marsh, has just announced he will give all colleagues an extra day off on 2 January, and all those eligible, will get an advance on their bonus."

Hawkins added it was important to continue rewarding employees even in a tough climate. "Yes, it is tough, and we see this gesture as a mark of the company's gratitude for colleagues' efforts this year."

Earlier this year Cable & Wireless acquired Thus, a UK telecoms business. A total of 700 jobs will be cut from the 1,800 strong workforce when the takeover occurs early next year.