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February 27, 2008 |
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CABLE & WIRELESS: Will Dismiss 100 Workers in Jamaica Cable & Wireless PLC told the Associated Press that will lay off about 100 workers in Jamaica at the end of March as part of a restructuring to better compete with competition. Cable & Wireless spokesperson Errol Miller told the AP that the layoffs will affect about 6% of the firm's 1,600 workers in Jamaica. Cable & Wireless wants to streamline Jamaican operations as it faces increased competition, especially from Jamaica's Digicel Group Ltd., the AP states. Headquartered in London, Cable & Wireless Plc -- http://www.cw.com/new/ -- provides voice, data and IP (Internet Protocol) services to business and residential customers, as well as services to other telecoms carriers, mobile operators and providers of content, applications and Internet services. The company has operations are in the United Kingdom, India, China, the Cayman Islands and the Middle East. * * * In April 2007, in connection with the implementation of its new Probability-of-Default and Loss-Given-Default rating methodology for the corporate families in the Telecommunications, Media and technology sector, Moody's Investors Service confirmed its Ba3 Corporate Family Rating for Cable & Wireless Plc. Moody's also assigned a Ba3 Probability-of-Default rating to the company. |
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