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.
