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5/10/2018, 8:55 AM (Source: TeleTrader)
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BT to reduce workforce by 13,000 in three years

BT Group Plc announced on Thursday it will cut 13,000 jobs over the next three years in a bid to reduce costs, following a fourth-quarter drop in revenue. The telecoms company said the reductions will concern mainly back office and middle management roles; however, it also added it will hire 6,000 employees in network deployment and customer service. The goal of restructuring BT's operating model will include cutting costs by £1.5 billion, according to the statement. The British group already said it would remove 4,000 jobs last year in restructuring efforts.

"BT is uniquely positioned to be a leader in converged connectivity and services. We have the UK’s leading fixed and mobile access networks, a portfolio of strong and well-segmented brands, and close strategic partnerships. This position of strength will enable us to build on the disciplined delivery and risk reduction of the last financial year, a period during which we delivered overall in-line with our financial and operational commitments whilst addressing many uncertainties," said Gavin Patterson, CEO of BT.

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