Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Frank Pembleton who started this subject	5/15/2002 2:01:30 PM
From: SliderOnTheBlack	Read Replies (1) of 36161

C&W sees unstable telecoms market for 12 months [ ...THE WORLDS LARGEST WEB HOSTING CO... isn't seeing thru the same rose-colored glasses that Cisco is...] LONDON, May 15 (Reuters) - British telecoms group Cable & Wireless Plc (London:CW.L - News), the world's largest Web hosting company, said on Wednesday it did not expect to see its market improve for another 12 months. "The industry has suffered from unprecedented turmoil, even more dramatically over the last six months, and my own view is that the market the we operate in won't stabilise for another 12 months," Chief Executive Graham Wallace said. Wallace also told reporters in a conference call that by cutting costs in a restructuring of its U.S. business, some jobs would be lost. "It's a fairly sensitive time, to be honest, because we're making announcements on some of the changes in the U.S. this week," he said. "There will be some (job losses)." **********************************************************

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