BT are to cut up to 55,000 jobs by the end of decade in a bid to cut costs & raise profitability
BT is the UK’s biggest broadband and mobile provider and is set to get rid of between 40,000 to 55,000 jobs by 2030.
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The workforce of 130,000 will drop to between 75,000 to 90,000. Current chief executive Philip Jansen said at the end of 2020s, BT will have a "much smaller workforce" and a "significantly reduced cost base".
The announcement of the reduction in jobs comes as BT reported a 12 percent drop in profits of £1.7bn for the year to April. Mr Jansen said BT would become "a leaner business with a brighter future".
BT said that the number of people affected, which is 55,000 as the top estimate, will be made up of their own employees as well as third party contractors. The current workforce of 130,000 includes 30,000 non-staff.
The Communication Workers Union (CWU) held a series of strikes last year over pay at the company. An agreement was struck with BT in November, but they are yet to respond to the announcement.
More recently, BT has embarked on a 5G and broadband rollout and has reportedly benefited from digital trends such as Artificial Intelligence (AI). Its use of next-generation full-fibre and 5G networks in the UK means fewer engineers are needed.