Jobocalypse at BT Group 55,000 positions set to be cut by 2030
BT Group, the UK telecom company, announced on Thursday its intention to reduce its workforce by up to 55,000 jobs by the end of the decade. The move is part of a comprehensive overhaul aimed at streamlining operations and cutting costs.
According to its most recent earnings report, BT, with a total workforce of 130,000 comprising staff and contractors, disclosed its plans to reduce the number of employees to a range of 75,000 to 90,000 by the year 2030.
“By the end of the 2020s BT Group will rely on a much smaller workforce and a significantly reduced cost base. New BT Group will be a leaner business with a brighter future," CEO Philip Jansen said, reported Outlook.
Amidst sluggish economic growth and rising inflation, the tech and telecom sectors have been grappling with significant workforce reductions as part of a challenging industry restructuring.
As part of a significant restructuring effort, Vodafone, a UK-based wireless carrier operating in Europe and Africa, recently announced its decision to lay off 11,000 workers.
Once its fiber-optic broadband and 5G mobile networks are fully deployed, BT, a former state monopoly formerly recognized as British Telecom, explained that it anticipates a reduced requirement for workers to construct and maintain these networks.
Jansen mentioned that BT would collaborate with union partners during the job reduction process and also depend on attrition.