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Friday, April 12, 2024

BT Plans to Reduce Workforce by Up to 55,000 Jobs by the End of the Decade

BT, the telecommunications giant, has revealed plans to slash its workforce by up to 55,000 jobs by the end of the decade as part of its cost-cutting measures.

This reduction in headcount, accounting for approximately 40% of its current workforce of 130,000 employees, aims to create a “much smaller workforce” and achieve a “significantly reduced cost base” by the close of the 2020s, according to CEO Philip Jansen.

This announcement follows Vodafone’s decision to eliminate 11,000 jobs, amounting to a tenth of its workforce, over the next three years.

BT made this revelation while reporting a 12% decline in profits, amounting to £1.7 billion, for the year ending in April.

Mr. Jansen expressed his vision for BT to transform into a more streamlined business with a promising future.

As the UK’s leading provider of broadband and mobile services, BT intends to eliminate between 40,000 and 55,000 jobs by 2030.

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