Debt-ridden cable operator Telewest is set to cut a further 1,000 jobs and slash spending by a third as part of its restructuring.
The latest round of staff cuts is likely to be completed by the end of next year, reducing the workforce to around 8,000. Annual capital expenditure will be reduced to £300m.
Some senior managers have been offered redundancy packages, and the number of customer service centres is expected to fall from eight to five.
Telewest announced 1,500 job cuts and a £150m reduction in capital expenditure to £450m earlier this year.
Chief executive Adam Singer was ousted last month following a boardroom coup, and was replaced by Charles Burdick, formerly financial director.
According to the Financial Times, the cuts come ahead of a debt-for-equity swap with bondholders owed £3.6bn.
Although the company will still owe £1.8bn to its banks following the restructuring, the move will cut Telewest's interest bills by £300m a year.
There is mounting speculation within the industry that the restructuring could lead to a merger with rival NTL.
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