Charter Communications has announced a restructuring plan after revealing of debt problems:
NEW YORK (Reuters) - Charter Communications Inc., the third-largest U.S. cable television company, said on Tuesday it plans "significant" job cuts to lower costs amid a dwindling subscriber base and mounting debt.
The news comes as a federal grand jury reportedly stepped up its inquiry into how Charter accounts for its subscribers -- a key figure that Wall Street uses to value cable companies.
The company did not provide details of how many employees would lose their jobs, but Chief Executive Carl Vogel said the cuts would involve the closure of its 10 regional operations. These would be replaced by five geographic divisions.
I wonder if this will have an affect on consumers' monthly rates. Reuters has
more.
