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BT to cut 4,000 jobs in major restructuring plan

by LLB Reporter
11th May 17 8:41 am

The latest

BT has said it will be getting rid of 4,000 jobs across the globe as part of a new major restructuring plan.

The telecoms firm is looking to simplify its Global Services operations and it said most of the posts will be going into back-office and managerial sectors.

The new plan follows an accounting scandal at the Italian part of Global Services. This cost BT more than £500m.

As well as this BT’s chief executive and its now-departed finance director will lose out on their annual bonuses due to the scandal.

BT said that both Gavin Patterson and Tony Chanmugam understood the decision and would not have accepted a bonus if one had been approved.

BT has also revealed that its annual pre-tax profits fell 19 per cent to £2.35bn in the year to March.

The firm said: “This has been a challenging year, but BT remains well positioned for the future,” 

“Our strong businesses, underlying operational performance and financial returns show BT has the strength and breadth to withstand setbacks.”

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