Telecoms firm to cut 3,500 jobs

Cable
& Wireless is to cut 3,500 jobs in its global division.

The
telecoms company said most of the jobs lost would be outside the UK, reducing
the global workforce to 9,000.

When
complete, the restructuring is expected to save about £400m annually, however,
the cost of restructuring will be about £800m.

Cable
& Wireless also plans to downscale its domestic operations in the US and in
continental Europe.

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Chief
executive Graham Wallace said: "These are tough measures in a tough
market."

By Quentin Reade