13,000 jobs will go over the next three years
Britain’s biggest telecoms group BT is cutting 13,000 jobs and also leaving its London headquarters to achieve a cost reduction of £1.5bn.
The jobs – mainly back office and middle management roles – will go over the next three years.It would also be hiring about 6,000 employees “to support network deployment and customer service”, the telecoms group said.
The announcements came as BT delivered a ‘solid set of financial results’ in the year to March.
Chief executive Gavin Patterson said: “BT delivered a solid set of financial results in the fourth quarter, with growth in our consumer divisions offset by declines in our enterprise businesses, due to both challenging market conditions and our decision to exit lower margin business.”
BT has also agreed a new 13-year funding plan for its pension, which had a deficit of £11.3bn pounds at the end of June.