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04/09/2001
Marconi to cut a further 2,000 jobs
Telecoms equipment firm Marconi has revealed it is to axe a further 2,000 jobs on top of the 8,000 already announced earlier in the year.
The company revealed the news after announcing that its two top executives had resigned.
More of the companies factories are also set to close in an "extensive global programme" aimed at cutting small sites and manufacturing duplication.
The shake-up follows an operational review launched in July after Marconi announced that, because of tougher market conditions, operating profits for the year to the end of March would come in at half the previous forecast.
Tuesday's statement revealed that, thanks largely to a 25 per cent slump in sales of network equipment, the company ran at a £227m loss in the April-to-June quarter.
A current upturn in sales combined with savings made from jobs cuts and rationalisations already announced, should see the firm break even between July and September, the briefing said.
Marconi expects to employ 29,000 people by March next year, compared with 39,000 at the end of March this year. (MB)
The company revealed the news after announcing that its two top executives had resigned.
More of the companies factories are also set to close in an "extensive global programme" aimed at cutting small sites and manufacturing duplication.
The shake-up follows an operational review launched in July after Marconi announced that, because of tougher market conditions, operating profits for the year to the end of March would come in at half the previous forecast.
Tuesday's statement revealed that, thanks largely to a 25 per cent slump in sales of network equipment, the company ran at a £227m loss in the April-to-June quarter.
A current upturn in sales combined with savings made from jobs cuts and rationalisations already announced, should see the firm break even between July and September, the briefing said.
Marconi expects to employ 29,000 people by March next year, compared with 39,000 at the end of March this year. (MB)
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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.
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.
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.
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.
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CIPR Journalism Awards In Full
Deric Henderson of the Press Association has been awarded the Journalist of the Year title The Belfast Telegraph lifted the title for Coca-Cola CIPR Newspaper of the Year, and the BBC's Spotlight Programme won the Coca-Cola CIPR Scoop of the Year and the Coca-Cola CIPR Current Affairs Programme of the Year for its Irish Robinson Investigation.
CIPR Journalism Awards In Full
Deric Henderson of the Press Association has been awarded the Journalist of the Year title The Belfast Telegraph lifted the title for Coca-Cola CIPR Newspaper of the Year, and the BBC's Spotlight Programme won the Coca-Cola CIPR Scoop of the Year and the Coca-Cola CIPR Current Affairs Programme of the Year for its Irish Robinson Investigation.
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.
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