The workforce at internet company Ziggo will be cut by 450 over the next three years, following the merger with UPC. In addition, a number of temporary contracts will not be renewed, the company said late on Tuesday.

Most jobs will go in the departments which focus on new product development, innovation and infrastructure as well as management.  UPC’s American owner Liberty Global took over Ziggo last year.

The new company has a cable network covering 90% of the Netherlands and 4.3 million clients.

Dutch media point out that the job losses are in sharp contrast to the benefits enjoyed by Ziggo bosses. Company president Andrew Sukawaty has shares in the company valued at €17.7m and was also given a €5.7m merger bonus.

Ziggo’s former CEO Bernard Dijkhuizen has Ziggo shares currently valued at €11.85m while CEO Bert Groenewegen’s are worth €8.7m