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06/09/2001
Shares in mired Marconi tumble
Shares in crisis-hit telecoms equipment maker Marconi, have slumped 28 per cent to close at just 38 pence, wiping £400m off the firm's share value in one day.
The FTSE 100 company has now lost 95 per cent of its value since the end of last year.
The latest blow to the company comes after analysts slashed their outlook for the troubled firm and questioned its ability to meet established debt reduction targets.
Shareholders have also expressed their fury at the prospect of a £1m pay-off to the departing chief executive, Lord Simpson.
This latest disaster for Marconi comes after it announced a further 2,000 job cuts on top of 8,000 announced earlier this year.
Union leaders, who said they had been given no warning of the announcement, condemned the cuts. (MB)
The FTSE 100 company has now lost 95 per cent of its value since the end of last year.
The latest blow to the company comes after analysts slashed their outlook for the troubled firm and questioned its ability to meet established debt reduction targets.
Shareholders have also expressed their fury at the prospect of a £1m pay-off to the departing chief executive, Lord Simpson.
This latest disaster for Marconi comes after it announced a further 2,000 job cuts on top of 8,000 announced earlier this year.
Union leaders, who said they had been given no warning of the announcement, condemned the cuts. (MB)
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27 September 2001
Marconi shares hit all-time low as company rated “worthless”
Shares in beleaguered telecoms equipment manufacturer Marconi, have fallen to an all-time low after City analysts rated the company’s value as ‘worthless’. Investors in the company have seen Marconi’s share price tumble to 18p, from a sometime high of £12.
Marconi shares hit all-time low as company rated “worthless”
Shares in beleaguered telecoms equipment manufacturer Marconi, have fallen to an all-time low after City analysts rated the company’s value as ‘worthless’. Investors in the company have seen Marconi’s share price tumble to 18p, from a sometime high of £12.
14 September 2001
Union leaders hold talks with Marconi
Union leaders are to hold talks with Marconi over the company’s plan to cut 2,000 jobs from its UK workforce. Some union officials have warned strike action could be called over the way the telecoms firm announced the cuts last week. The news follows the company’s relegation from the FTSE 100 index of leading listed UK firms.
Union leaders hold talks with Marconi
Union leaders are to hold talks with Marconi over the company’s plan to cut 2,000 jobs from its UK workforce. Some union officials have warned strike action could be called over the way the telecoms firm announced the cuts last week. The news follows the company’s relegation from the FTSE 100 index of leading listed UK firms.
06 May 2005
800 jobs to go at Marconi
Telecoms equipment manufacturer Marconi has announced that 800 jobs are to go in the UK. 450 jobs are expected to go at the firm’s site in Coventry and another 350 are expected to be lost in Liverpool. Marconi currently employs around 4,300 in the UK. The announcement comes after the company’s failure to secure a new contract with BT.
800 jobs to go at Marconi
Telecoms equipment manufacturer Marconi has announced that 800 jobs are to go in the UK. 450 jobs are expected to go at the firm’s site in Coventry and another 350 are expected to be lost in Liverpool. Marconi currently employs around 4,300 in the UK. The announcement comes after the company’s failure to secure a new contract with BT.
15 October 2001
Marconi reassures investors about debt burden
Marconi has sought to reassure investors that the company is on course to decrease its £4.3 billion debt burden. Commenting on the latest trading figures Chief Executive of Marconi Mike Parton said: "Whilst trading conditions continue to be tough, Group operating profit and cash flow in the second quarter were in line with our previous guidance.
Marconi reassures investors about debt burden
Marconi has sought to reassure investors that the company is on course to decrease its £4.3 billion debt burden. Commenting on the latest trading figures Chief Executive of Marconi Mike Parton said: "Whilst trading conditions continue to be tough, Group operating profit and cash flow in the second quarter were in line with our previous guidance.
11 September 2001
New hope for Marconi as shares rise
Shares in UK telecoms equipment maker Marconi have risen by 14 per cent amidst renewed hopes that the company may survive its current debt of £4.5 billion. The hopes were raised on Monday after several banks agreed to extend their credit lines to the firm.
New hope for Marconi as shares rise
Shares in UK telecoms equipment maker Marconi have risen by 14 per cent amidst renewed hopes that the company may survive its current debt of £4.5 billion. The hopes were raised on Monday after several banks agreed to extend their credit lines to the firm.
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
