BT set to axe 6,000 jobs

Friday, May 4, 2018

Telecommunications giant BT has announced plans to lose up to 6,000 jobs worldwide in a fresh set of cuts to the company following financial difficulties.

The company is looking to rebuild and regain investors' trust following the Italian accounting scandal, which cost around £530m to clean up.

It has announced that these cuts will affect about 6% of their 98,000 workforce. The decision is part of a new corporate strategy that will be revealed by its chief executive, Gavin Patterson, at BT’s annual financial results next Thursday. 

These cuts, which are likely to hit managerial and back-office personnel, will mean BT have axed nearly 10,000 jobs in the last 12 months.

The Financial Times reported that BT were set to save about £500m from its £4.7bn wage bill.

BT are yet to comment on the latest wave of cuts. More to follow.