Sources inside Cable & Wireless/Thus say the company is wielding the axe before Christmas. It is a sad truth that many large companies do this at Christmas to clear the decks for their new financial year in April.
In actual fact this must have been only a matter of time following C&W’s recent acquisition of Thus. I don’t know how many individuals are affected but I daresay it will be in the press sooner rather than later. There is certainly no mention of it yet in the FT or The Register.
BT also seems to be making substantial cuts in headcount. These days being made redundant is not necessarily a reflection on the abilities of an individual. Large organisations often close down complete divisions.
It is said that during the dot com bubble burst in the early 2000s around a million people left the telecoms industry. I don’t believe we are in for the same wholesale exit this time round but only time will tell.