BT cuts almost 8,000 jobs amid sweeping cost-saving programme
Source: The Guardian ·
Telecoms group reports £1.1bn pre-tax profit in six months to end of September and share price touches five-year highBusiness live – latest updatesBT has cut almost 8,000 jobs from its workforce since the end of March, as it pushes ahead with sweeping cost cuts across the business.The telecoms group said its workforce had fallen by 7,731 to 90,000, excluding staff in its international business,…
From the source
BT has cut almost 8,000 jobs from its workforce since the end of March, as it pushes ahead with sweeping cost cuts across the business. The telecoms group said its workforce had fallen by 7,731 to 90,000, excluding staff in its international business, which is being spun out in a joint venture with the US telecoms company Verizon. It had a workforce, including contractors, of about 130,000 people two years ago. Most of the cuts have been at BT’s Openreach division, as the buildout of its fibre network slows, as well as through a drive to slash billions in costs by 2030. The huge cuts helped bolster BT’s pre-tax profit in the year by 12% to £1.1bn in the six months to the end of September. BT shares, which are listed in London, shot up by as much as 6% in early trading on Thursday, touching a five-year high and ranking it among the best performers across the FTSE 100. Allison Kirkby, who had been a BT board member and became chief executive in February 2024, has overseen a…
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