US internet service provider (ISP) Genuity is to cut up to 1,200 jobs and close some European operations as the company tries to further reduce its costs.
The job cuts represent around 30 per cent of Genuity's workforce and follow a 24 per cent headcount reduction announced in November.
The company has confirmed that its western European professional services unit will be shut down, but gave no indication of where the cuts would occur.
Genuity also said it was considering the additional consolidation of data centres and administrative facilities, and announced plans to reduce capital spending in 2002 as part of the cost cutting exercise.
The ISP went public in June 2000, when it was spun off from parent company Verizon Communications, one of the largest telecoms operators in the US.
Verizon still holds a 9.5 per cent stake in Genuity with the option to increase its ownership to 80 per cent when the company clears regulations limiting its interstate business.
Meanwhile, Verizon and Genuity are expanding their collaboration and have signed agreements to offer IP services in states where Verizon is eligible to sell them.
The deal will also see Verizon touting Genuity's Black Rocket Voice, a voice-over-IP offering for businesses.
Genuity will become Verizon's preferred provider of IP backbone services, and Verizon will be Genuity's preferred provider of associated access services.
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