Cable & Wireless to Leave U.S.
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From Associated Press
British telecommunications group Cable & Wireless said it will cease operating in the United States, including closing its U.S. headquarters in San Francisco, cut an additional 7% of its global workforce and suspend its dividend.
The London-based company announced its restructuring plans while reporting annual losses of $10.6 billion, which it blamed on a “turbulent year” marked by problems at its Internet and data services division.
The company said it might eliminate all 2,800 U.S. jobs.
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