SportBusiness.com

More job cuts at NTL

Tagged in

NTL, the UK's largest cable operator, is cutting another 2,000 jobs as bankruptcy fears continue to plague the group.

In an attempt to cut its GBP12billion (USD17bn/EUR20bn) debt mountain, NTL has already axed 6,000 staff from its 21,000-strong workforce so far this year.

Chief operating officer Stephen Carter said today's announcement would leave the group with just 13,000 staff and admitted the group was in trouble.

"Difficult times mean difficult decisions and in the UK we are determined to continue to drive down costs and improve customer service. That is why associates in customer serving roles will not be made redundant," he said.

Carter added there would be a pay freeze for all NTL managers, a review of all spending plans and the removal of all non-essential consultants and contracted workers.

The news follows weekend newspaper reports that the US-listed group is facing a funding gap of GBP500m (USD715m/EUR806m) and is struggling to stay afloat.

NTL has 3m customers, 1.1m of which subscribe to digital TV.