Virgin Media to shed around 600 jobs

20 Sep 2013

Virgin Media is said to be planning to cull some 600 middle and senior level jobs as it looks to eliminate duplicate roles across its new parent company London-based Liberty Global’s European business. According to Bloomberg, which cited Virgin Media spokesman Gareth Mead, employees were advised of the staffing cuts yesterday, starting a 90-day consultation aimed at cutting costs. Although engineers and call centre workers will not be impacted by the redundancies, around 4% of the UK cableco’s 15,000-strong workforce will be affected. Virgin Media CEO Tom Mockridge said: ‘Like organisations across the public and private sector, Virgin Media is making sure it has the structure it needs to meet the needs of its customers … 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.’

As noted in TeleGeography’s GlobalComms Database, in February 2013 US-based multinational cableco Liberty Global agreed to acquire Virgin Media. In April 2013 the European Commission (EC) cleared the deal after determining that the transaction would not raise competition concerns. Shareholders of both Liberty Global and Virgin Media, meanwhile, gave the nod to the transaction in early June 2013, and just a few days later it was confirmed that the deal had closed. As a result of the merger the Liberty Global group was reorganised, with London-based Liberty Global plc becoming the new parent company of both US-headquartered multinational cable group Liberty Global Inc (LGI) and Virgin Media.

United Kingdom, Virgin Media