Cable & Wireless is to cut up to 3,000 jobs in the UK over the next five years, as it seeks to concentrate on larger business customers.
The restructuring will see C&W cuts its business customer base from around 30,000 to just 3,000 major business customers.
C&W said reducing the number of customers would reduce costs and help boost customer service to those larger companies on more lucrative contracts.
C&W currently employs over 5,500 people in the UK. Around 2,000 of these are based in Bracknell. There are other sites in Leeds, Manchester, Reading and London.
The company said that it would be reducing the UK workforce to between 2,500 and 3,500 over the next four to five years. Around 350 of these job cuts will take place in the current financial year.
Last month the company announced that it was splitting its operations into two subsidiaries – international business and UK business. It admitted at the time that the move would lead to job losses.
The company also issued a profits warning last month and said that chief executive Francesco Caio would be leaving the firm in April, once the operational split had been completed.
C&W bought rival Energis last year, and owns high-speed broadband company Bulldog. A large number of Bulldog’s customers are small businesses, but C&W said these would not be affected by cut backs.