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| Virgin Media plans 2,200 job cuts | |
| (10 minutes later) | |
| Cable group Virgin Media has said it plans to cut 2,200 jobs by 2012, around 15% of its workforce, as part of a group-wide overhaul. | |
| Virgin Media said the changes were "critical" to ensuring it was positioned to compete effectively. | Virgin Media said the changes were "critical" to ensuring it was positioned to compete effectively. |
| The group said it would not start cutting jobs until the fourth quarter of next year. | |
| The job losses come in the wake of NTL's merger with Telewest in 2005 and its takeover of Virgin Mobile in 2006. | |
| In a statement chief executive Neil Berkett said: "Over the coming weeks and months, we will be developing more detailed proposals for their implementation." | |
| The firm said it expected to improve its cash flow by up to £120m ($186.4m) over the next four years. | The firm said it expected to improve its cash flow by up to £120m ($186.4m) over the next four years. |
| Earlier this month, the company won a deal to delay its debt repayments - giving it until 2012 to refinance £4.3bn worth of loans. | |
| Virgin Media has 76 offices across the UK, with major bases including sites in London, Edinburgh, Nottingham and Sheffield. |