Colt axes 800 jobs

Struggling European telecoms group Colt Telecom is axing another 800 jobs across Europe in an effort to fight the economic downturn, it said today.

Struggling European telecoms group Colt Telecom is axing another 800 jobs across Europe in an effort to fight the economic downturn, it said today.

The London-based group hopes to save up to £40m (€40.9) a year through the restructuring, which follows the construction of its European voice and data network.

Colt employs 5,000 staff with more than 3,000 split equally between the UK and Germany. It announced plans to cut 500 jobs in February.

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