NEWLY-listed Marconi Corporation, the reincarnated telecoms equipment company, plans to axe another 500 jobs as it forecast further falls in volumes and sales for this year.
Marconi, which ran up billions of pounds of debts in an acquisition spree at the height of the telecoms boom, said its employee numbers would fall to 13,000 by the end of next March.
The London company, which last week emerged from a £4bn financial restructuring, already had plans in place to cut its workforce to 13,500. A downturn in the telecoms sector had already forced the company to cut thousands of jobs and sell non-core businesses as it battled for survival.
The cuts are expected to be made across the group's worldwide operations. Outside its London headquarters, the company has regional bases in Coventry, Nottingham, Liverpool and Chelmsford.
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