Debt-ridden cable operator Telewest is cutting 1,500 jobs in a bid to save £50 million a year it emerged today.
The group says it wants to "streamline management and flatten reporting lines" in its business as it looks to cut costs.
Telewest has run up debts of £5.28 billion after expanding its cable TV, phone and internet operations in the UK.
Telewest chief executive Adam Singer said the layoffs were "a necessary but painful response to market conditions" in order to stabilise the firm's financial future.
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