Business Services Industry
Talk of executive shake-up at Cable & Wireless' UK operations may mean trouble.
Knight Ridder/Tribune Business News, November, 2004
By James Ashton, Daily Mail, London Knight Ridder/Tribune Business News
Nov. 6--Cable & Wireless boss Francesco Caio looks set to take greater control of the company's struggling UK business. The move is bad news for UK boss Royston Hoggarth who arrived in mid-2003 to lead a turnaround.
C&W may have staunched huge losses and exited the US and Japan cheaply, but investors are anxious to see progress at its largest remaining division.
Caio warned in the summer that the UK business -- which is chasing lucrative corporate contracts in a cut-throat market -- may not start growing again this year.
UK sales fell 4 percent in the last reported quarter. Some 1,200 jobs have been cut so far. A C&W spokesman said there was "nothing...
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