I think this is 2002 - dot com bust - WSJ - CV said that it would take a $55 million restructuring charge and eliminate 600 jobs, or about 4% of its work force.
The Bethpage, N.Y., cable-television operator said in a statement that the moves were being made to achieve "improvements in operational efficiency aimed at positioning the company for continued growth in 2002."
Cablevision President and Chief Executive James L. Dolan said that while it is "always very difficult" to reduce staff, "it is also imperative that Cablevision position itself to achieve maximum operational results." He said the layoffs stemmed from a "thorough strategic review of 2002 and beyond."
These are the first significant layoffs at Cablevision since the mid-1990s, according to a company spokesman.