The latest round of job cuts continues as French communications firm Alcatel announced it would lay off 10 per cent of its UK staff.
Yesterday the telecoms equipment manufacturer said it would be forced to cut about 300 UK jobs at its Banbury, Maidenhead, Newport South Wales and London centres in a bid to cut costs.
Most of those affected will be offered voluntary redundancy, although some compulsory redundancies would be necessary, the company said.
Only last week Alcatel slashed 2500 US jobs, or 16 per cent of its US workforce, and consolidated its manufacturing facility in Raleigh, North Carolina.
Alcatel is also thought to be in the running with a bid for troubled rival Marconi. At the end of last month Marconi laid off 1500 workers in the UK and admitted that it may be vulnerable to a hostile takeover.
TSB IT fiasco has "all the hallmarks of an IT meltdown", claims Treasury Committee chair Nicky Morgan MP
The first appeals over Apple's Irish taxes will take place in the autumn, confirms Ireland's finance minister
Stephenson will design the inside and outside of the futuristic Lillium jet.
The new policy is aimed at making the social network a safer place