Thursday, May 5, 2005

Marconi Announces Corporate Restructuring

Marconi announced a major corporate restructuring around four different product groupings and geographic centres of excellence. Marconi will continue to market its full product range on a global basis. The four new business groups are:

  • SoftSwitch (Northern Europe)

  • Wireless (Central Europe)

  • Optical & Access Networks (Southern Europe)

  • Data Networks (North America)

Each of these groups will continue to provide its customers with Network Integration and Installation, Commissioning and Maintenance Services.

Marconi expects it will have to cut up to 800 jobs in the UK and has initiated discussions with its trade union. The restructuring will dismantle much of the company's current UK-based central Operations organisation. The company plans to provide a financial update on on 17-May-05.


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