BT to cut 55,000 jobs by end of the decade

BT to cut 55,000 jobs by end of the decade decade as it looks to become a leaner business

  • BT plans to cut its total workforce numbers by around 40%, it announced  

BT Group, Britain’s biggest broadband and mobile provider, has announced plans to axe 55,000 jobs by the end of the decade in order to become a leaner business.

Total workers, including employees and contractors employed by third parties on BT’s behalf, will drop to between 75,000 to 90,000 by 2030, from about 130,000 currently. This represents a reduction of around 42 per cent.

The announcement came after it met market expectations with a 5 per cent rise in full-year adjusted core earnings of £7.9billion, after growth in networks and consumer offset a decline in enterprise.

Job cuts: BT plans to cut 55,000 jobs over the next decade, it revealed today

Boss Philip Jansen said after completing its fibre roll-out, digitising the way it worked and simplifying its structure, it would rely on a much smaller workforce and significantly reduced cost base by the end of the 2020s.

‘New BT Group will be a leaner business with a brighter future,’ he said.

He said BT had grown both pro forma revenue and core earnings for the first time in six years in the year to end-March, while navigating an ‘extraordinary macro-economic backdrop.’

The group said it expected to grow both revenue and core earnings on a pro forma basis this year.