The cost of sacking hundreds of staff during the integration of Thus meant Cable and Wireless reported full year pre-tax profits down 13 per cent today. In the year to the end of March, the firm earned £233m on revenues of £3.6bn, up from £3.2bn the previous year. Restructuring losses from last year's £329m Thus acquisition, …
He said the restructure would lead to "a substantial increase in cash generation"
Should read - He said the restructure would lead to "a substantial increase in cash generation and a much bigger bonus for me next year, in fact once all these so called "workers" have gone I can just keep ALL the profits"
Worst Telecoms Company
C&W are without doubt the worst telecoms company I have ever worked for. Management are generally clueless in many areas, which does not match well with the very good (ex-Thus, ex-Energis) management that were kept from other businesses acquired.
It is the kind of company which think it is acceptable to regularly work outside contracted hours without remuneration. These guys are in love with conference calls for just about any topic you can envisage. A call with fifty people dialed in is not uncommon - and the reason people are dialed in is to ensure they have a full calendar. Due to getting nowt done on the calls due to the large number of attendees another meeting must be scheduled. Alas it only takes a few meetings to build up a substantial future filled calendar, meaning you often have either too little time to get real work done, or attempt to complete work whilst on a call, usually missing many points, and having to repeat things multiple times to people who are evidently far too busy to be productive overall.
Worryingly, since coming from Energis, most areas of the business have been in and out of 'consultation' for redundancy, with only a brief respite the past year, around when Thus was acquired. Now, back in consultation again, unbelievable. With those meetings booked in for 08:00 , lunch time, and 1730 onwards, it's no surprise staff moral deteriorates steadily.
If you are happy to go at a slow pace, attend a lot of meetings, have random information related to seemingly massively projects thrown at you, then go work for these bunch of jokers. The sad aspect of C&W is that there are actually quite a number of quality employees, with a wide range of skills, who are thrown into a corner on long term projects. C&W wish to be on the same level as BT, but given the way of working at BT, that is no respectable idealistic goal.