He claimed the company is in a better position than its rival NTL, which filed for Chapter 11 protection yesterday.
Burdick said: ‘We have good medium-term liquidity and we have options, and that is an important difference.’
The news of its cash position follows results for the first quarter which showed underlying earnings up 34% at £91m. Total turnover edged up 4% to £334m, with revenues in the consumer arm up 11% at £227m.
At the same time Telewest said its engineering arm would bear most of the brunt of its 1500 job cuts, while its consumer and business divisions will be merged in a bid to save cash.
But at this point the company is not clear about where the cuts are going to be made. Chief executive Adam Singer says no geographical breakdown of the job losses could be given.
Most of the job cuts are going to be through voluntary redundancy and Singer hoped to keep compulsory redundancies to ‘an absolute minimum’.
More than 500 jobs have already gone through natural wastage at the group, which has its main offices in Woking, Birmingham, Edinburgh and London.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements