Marconi releases profit warnings and announces to lay off 4000 people

Marconi, the biggest telecom equipments manufacturer in the UK, released profit warnings yesterday after the market closing that the operation profit of the company this year would slump 50% and its turnover would also decrease 15% vs the same period of last year. Moreover, a special provision of £150 mln (circa US$210.7 mln) was expected to be made. Meanwhile, the company planned to lay off 4000 people, 1000 of who are managing members and the company should make a provision of £550 mln for it. What¡¦s more, £350 mln was expected to be saved per year after the laying off.

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