LONDON-U.K.-based telecommunications provider Cable & Wireless said it will cut 1,500 U.K. jobs, exit the U.S. market and suspend its dividend for a year.
The announcements came after the operator announced its annual results, including a $10.6 billion loss. However, the company’s C&W Regional arm, which includes mobile and fixed businesses in the Caribbean and Panama, was profitable. The group has a monopoly in most Caribbean markets, although many competing mobile licenses have been awarded in several Caribbean countries during recent months.
Cable & Wireless offers corporate telecom and hosting services in the United States.
