As Cox Communications plans to cut 460 jobs out of its work force, analysts gear up to predict Time Warner Cable's third quarter earnings, which will be announced on Wednesday.
Cox plans to use a mix of early retirement, attrition and possibly layoffs to trim about 2 percent of the company's jobs out of a work force currently numbering around 23,000. Cox isn't sure what the mix will be, but there could be "a small number of involuntary actions."
Meanwhile, analysts believe Time Warner Cable will post revenues of $4.36 billion and earnings of 28 cents per share. Sanford Bernstein analyst Craig "I hate phone companies" Moffett believes TWC's earnings will be better than Comcast's. The slowing economy's effect on business and TWC's status in the Clearwire WiMAX joint venture are also expected to be discussed during the earnings call.
For more:
- Atlanta Journal-Constitution reports Cox cutting jobs
- AP Earnings Preview: Time Warner Cable to report 3Q
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