Liberty Global’s Virgin Media Cuts As Many As 600 Jobs in U.K.Kristen Schweizer
Virgin Media, the U.K. pay-TV operator bought by Liberty Global Plc this year, is cutting as many as 600 mid-to-senior-level jobs to eliminate duplicate roles across the parent company’s European business.
Employees were informed of the cuts today, at the start of a 90-day consultation to trim costs, Gareth Mead, a Virgin Media spokesman, said by phone. While engineers and call-center staff won’t be affected, the job eliminations could account for 4 percent of Virgin Media’s U.K. workforce of 15,000, he said.
“Like organizations across the public and private sector, Virgin Media is making sure it has the structure it needs to meet the needs of its customers,” Virgin Media Chief Executive Officer Tom Mockridge said in an e-mailed statement. “These proposals are designed to take advantage of the opportunities that come with being part of the world’s largest cable operator and create an organization that’s fit for growth.“
Liberty Global, controlled by U.S. billionaire John Malone, paid $16 billion for Virgin Media to expand in Europe’s biggest cable-TV market. Virgin Media competes against British Sky Broadcasting Group Plc, the U.K.’s biggest pay-TV company.