BT’s terrifying plan: 55,000 jobs to be cut by 2030.

UK-based telecoms and television group BT has announced plans to cut up to 55,000 jobs by the end of the decade. This will represent 42% of its workforce, and the job losses follow similar cuts across the tech sector this year. Two days before BT’s announcement, UK mobile phone firm Vodafone unveiled plans to cut 11,000 jobs. BT currently employs 130,000 workers, including contractors, but aims to reduce this figure to between 75,000 and 90,000 over the next five to seven years. The company has been slashing costs under a scheme launched three years ago. Chief executive Philip Jansen said: “By the end of the 2020s, BT Group will rely on a much smaller workforce and a significantly reduced cost base”. The group is expected to need fewer staff once it has rolled out its full fibre broadband and 5G network. Despite a 50% rise in net profits to £1.9bn ($2.4bn) in the year to March, pre-tax profits fell by 12% to £1.7bn and revenue fell by 1% to £20.7bn.

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