The world-wide scaling back of Cable & Wireless will not impact on Bermuda - no jobs will be cut or services reduced.

On Wednesday, Cable & Wireless announced drastic cuts world-wide in a bid to save itself including losing 1,500 jobs in the United Kingdom and pulling out of the United States.

Yesterday, Eddie Saints, general manager of Cable & Wireless Bermuda, called a Press conference to allay fears over what would happen to the Island company after its parent said it lost ?6.5 billion ($10.6 billion) in the year ended March 31.

"The changes announced yesterday were to return the company to profitability," said Mr. Saints. "But at local level there is no impact."

Responding to questions from the media, Mr. Saints said that the 78 jobs at the company in Devonshire and Hamilton were safe.

Cable & Wireless provides long distance, telecommunications and e-commerce services to households and businesses on the Island. Mr. Saints said the only impact was on a handful of businesses and he added that the Bermuda office would not report directly to London rather than through the Caribbean.