Saturday, 25 May 2019

BT set to wield the redundancy axe, with 25,000 jobs on the line

By Chris Kelly, Total Telecom
Thursday 28 March 19

Sources told news agency Bloomberg that the UK incumbent could look to cut its workforce by 25%

The UK's biggest telco, BT, is considering making a further 25,000 redundancies over the next five years, as new CEO Philip Jansen looks to streamline the company's operations…

The UK's biggest telco, BT, is considering making a further 25,000 redundancies over the next five years, as new CEO Philip Jansen looks to streamline the company's operations.

Numerous sources told Bloomberg that BT Group could look to reduce its current workforce from 100,000 to 75,000 by 2024. The new job cuts would be in addition to the 13,000 redundancies announced in 2018.    

BT Group is yet to comment on the reports in the press, but Jansen is expected to lay out his plans for the company when BT publishes its full year financials in May.

BT Group's share price jumped upon rumours of redundancies, climbing to 225.20p on the 28th March.

BT is aiming to be the first telco in the UK to rollout 5G mobile network services in the second half of 2019 – a task that will place real demands on the company's work force. The company has previously said that the bulk of any redundancies would be made in the company's clerical and middle management departments.

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