Legend ISP Threatens Job Cuts
Posted: 30th Aug, 2005 By: MarkJ
Staff of ISP Legend Communications have until the end of today to decide whether or not they should accept voluntary redundancy. Sadly if enough employees don't take up the offer then the provider is likely to make compulsory job cuts:
A week ago Legend - which until recently was known as Business Serve - issued a trading statement to the London Stock Exchange warning that its broadband business was being squeezed and that it had been hit by "two bad debts" amounting to some £200,000.
Said the company: "Although trading at the beginning of the financial year was in line with management expectations the last few weeks have proved to be particularly challenging. The downturn in trading is attributable to continuing margin pressure on the ADSL business line and an unexpected decrease in customer renewal rates."
We don't know how many jobs Legend is looking to cut, although no doubt that will become clear over the coming days. More @ The Register.
A week ago Legend - which until recently was known as Business Serve - issued a trading statement to the London Stock Exchange warning that its broadband business was being squeezed and that it had been hit by "two bad debts" amounting to some £200,000.
Said the company: "Although trading at the beginning of the financial year was in line with management expectations the last few weeks have proved to be particularly challenging. The downturn in trading is attributable to continuing margin pressure on the ADSL business line and an unexpected decrease in customer renewal rates."
We don't know how many jobs Legend is looking to cut, although no doubt that will become clear over the coming days. More @ The Register.
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