Telewest to cut 1,500 jobs

UK
cable operator Telewest has announced plans to cut 1,500 jobs.

It
says the cuts are necessary to save up to £50m over the next 12 months.

Chief
executive Adam Singer said the layoffs were a necessary "but painful"
response to market conditions.

The
losses will cut 14 per cent from the company’s total workforce. Telewest said
it will then combine the consumer and business divisions to streamline the
company.

Rival
cable operator NTL also ran into trouble recently. Both NTL and Telewest ran up
hefty debts while developing their networks, which deliver a cable TV, internet
access and phone lines.

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NTL
is currently trying to broker a deal to keep afloat.

By Quentin Reade