15-Aug-2018
ukmalayaleeBack to Business

BT set to announce around 6,500 job cuts worldwide

LONDON May 7: Telecoms company BT is set to announce around 6,500 job cuts worldwide to try and save up to £500million, it has been reported.
 
The firm is said to be looking to rebuild investor confidence after an accounting scandal in Italy last year and a difficult financial period.
 
The latest round of cuts comes just a year after it announced 4,000 job losses. 
 
BT chief executive Gavin Patterson is expected to announce the cuts it presents its full-year results next week, the Financial Times reports.
 
Market analysts told the publication that they expect BT to announce around 6,500 redundancies from its 106,000 strong workforce.
 
It will mean 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.  
 
Around 80,000 people work for the company in the UK so it is possible these cuts may affect employees at home as well as internationally.
 
Mr Patterson spent billions last year buying up expensive football rights to try and lure customers to its paid TV service.
 
The telecoms company also spent £12.5billion to acquire EE, who were then the UK's largest mobile provider.