Home Breaking Telecoms giant to cut 6,500 jobs next week

Telecoms giant to cut 6,500 jobs next week

by LLB Reporter
4th May 18 1:14 pm

Sources say it could save the group about £500m

Telecoms company BT is set to announce around 6,000 job cuts worldwide as it looks to rebuild investor confidence following an accounting scandal in Italy last year and patchy financial performance.

BT chief executive Gavin Patterson will reportedly announce the cuts in the full-year results next week. The cuts, first reported by the Financial Times, are estimated to ultimately save BT about £500m from its £4.7bn annual wage bill.

BT has declined to comment.

The latest round of cuts, which are expected to affect managerial and back-office personnel, will mean BT will have shed 10,000 jobs in the last year.

Leave a Commment

CLOSE AD

Sign up to our daily news alerts

[ms-form id=1]