NTL has told analysts it plans to cut 8200 staff by October 2002 to meet cashflow targets as it struggles under the weight of a £12bn debt.
The cable company expects to meet more than 80 per cent of its incremental cashflow targets for next year solely through more job cuts and price increases.
The firm expects to have 15,000 employees in October 2002, compared with 23,200 in October 2000, almost a third of staff.
Analysts have been sceptical about the firm's assurances that it is fully funded to meet its target of moving into profitability in 2003. The firm is no longer looking to acquire new subscribers, but to increase the average revenue per subscriber from existing customers from £39 to £46.
To raise more funds, NTL is also looking to sell off its broadcast services arm, valued at around £1.2bn, to cover any shortfall in funding. It has attracted bids from France Telecom, NTL's largest shareholder, and some venture capitalists.
The company has just under 3 million subscribers in the UK from a network that currently passes 8.4 million homes.
Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night
Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018
Meteor showers as a service will be visible for about 100 kilometres in all directions
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago