Menu
13/11/2008
BT Announce 10,000 Job Cuts
Telecommunications giant BT has announced it will slash 10,000 jobs, as the company faces the global economic downturn.
The company, which said 4,000 jobs have already been axed, will shed a further 6,000 between now and March 2009.
It is understood the majority of the posts will be agency and contract staff and offshore workers.
The cuts - part of an on-going efficiency programme - are revealed as BT announced an 11% fall in second quarter pre-tax profits to £590 million. Revenues were 4% higher at £5.3bn.
The telecoms company currently has 160,000 people working for it worldwide, 110,000 of these people are directly employed. Around 90,000 direct jobs are based in the UK.
Ian Livingstone, BT's Chief Executive said: "Three out of four business units, BT retail, BT Wholesale and Openreach are delivering on or ahead of target.
"But profits in BT Global Services are simply not good enough and we are taking decisive action to put matters right."
He added: "We have appointed Hanif Lalani as the new Chief Executive of BT Global Services and he will continue to grow the business while reducing the cost base."
The announcement comes during a week of economic uncertainty, with the news unemployment has risen by its highest rate in 11 years.
Virgin Media have also announced 2,200 job cuts - equating to around 15% of the company's workforce - and the world's second-largest drugs-making company, GlaxoSmithKline, also announced the closure of their Dartford factory, which will result in the loss of 620 jobs.
See: Unemployment Highest In Over A Decade
(JM)
The company, which said 4,000 jobs have already been axed, will shed a further 6,000 between now and March 2009.
It is understood the majority of the posts will be agency and contract staff and offshore workers.
The cuts - part of an on-going efficiency programme - are revealed as BT announced an 11% fall in second quarter pre-tax profits to £590 million. Revenues were 4% higher at £5.3bn.
The telecoms company currently has 160,000 people working for it worldwide, 110,000 of these people are directly employed. Around 90,000 direct jobs are based in the UK.
Ian Livingstone, BT's Chief Executive said: "Three out of four business units, BT retail, BT Wholesale and Openreach are delivering on or ahead of target.
"But profits in BT Global Services are simply not good enough and we are taking decisive action to put matters right."
He added: "We have appointed Hanif Lalani as the new Chief Executive of BT Global Services and he will continue to grow the business while reducing the cost base."
The announcement comes during a week of economic uncertainty, with the news unemployment has risen by its highest rate in 11 years.
Virgin Media have also announced 2,200 job cuts - equating to around 15% of the company's workforce - and the world's second-largest drugs-making company, GlaxoSmithKline, also announced the closure of their Dartford factory, which will result in the loss of 620 jobs.
See: Unemployment Highest In Over A Decade
(JM)
Related UK National News Stories
Click here for the latest headlines.
26 March 2015
North Sea Oil Company Announce Job Cuts
Oil company Taqa has announced it is cutting one hundred jobs because of the "challenging environment" of the North Sea industry. The company said it is consulting with its workforce over the job cuts, which it expects to be mostly contractors and consultants in onshore positions.
North Sea Oil Company Announce Job Cuts
Oil company Taqa has announced it is cutting one hundred jobs because of the "challenging environment" of the North Sea industry. The company said it is consulting with its workforce over the job cuts, which it expects to be mostly contractors and consultants in onshore positions.
09 June 2015
HSBC Announce Thousands Of UK Job Cuts
HSBC has announced 8,000 job cuts in its UK workforce, as part of a global effort to reduce costs and "simplify its business". Europe's largest bank, which currently employs 48,000 people in the UK, has said that it will seek to make 25,000 job cuts globally, reducing its worldwide workforce of 266,000 by about 10%.
HSBC Announce Thousands Of UK Job Cuts
HSBC has announced 8,000 job cuts in its UK workforce, as part of a global effort to reduce costs and "simplify its business". Europe's largest bank, which currently employs 48,000 people in the UK, has said that it will seek to make 25,000 job cuts globally, reducing its worldwide workforce of 266,000 by about 10%.
10 February 2015
Birmingham Council Considers Job Cuts In Money Saving Drive
Birmingham City Council has voted to reduce the opening hours of the city's new £189 million library by almost half. Opening hours of the library, which opened in September 2013, are to be cut from 73 to 40 as part of a drive to save money.
Birmingham Council Considers Job Cuts In Money Saving Drive
Birmingham City Council has voted to reduce the opening hours of the city's new £189 million library by almost half. Opening hours of the library, which opened in September 2013, are to be cut from 73 to 40 as part of a drive to save money.
11 September 2009
RMT Calls For Halt To Job Losses At Network Rail
Rail union RMT has called for a halt to job losses at Network Rail after new information supplied by the company revealed that 2549 maintenance jobs are now under threat – a significant increase on the 1800 confirmed by Network Rail two weeks ago.
RMT Calls For Halt To Job Losses At Network Rail
Rail union RMT has called for a halt to job losses at Network Rail after new information supplied by the company revealed that 2549 maintenance jobs are now under threat – a significant increase on the 1800 confirmed by Network Rail two weeks ago.
30 July 2008
Northern Rock Reveals Job Cuts
Northern Rock is set to shed up to 1,300 jobs as part of a restructuring plan. The troubled bank, which was effectively nationalised this year, aims to limit the number of compulsory redundancies to 800, while 500 staff will leave voluntarily. The job cuts are in line with previously announced plans to cut 2,000 staff by 2011.
Northern Rock Reveals Job Cuts
Northern Rock is set to shed up to 1,300 jobs as part of a restructuring plan. The troubled bank, which was effectively nationalised this year, aims to limit the number of compulsory redundancies to 800, while 500 staff will leave voluntarily. The job cuts are in line with previously announced plans to cut 2,000 staff by 2011.
-
Northern Ireland WeatherToday:A chilly start with a widespread frost and some freezing fog, any freezing fog slow to clear. Otherwise bright with sunny spells and coastal showers. Light winds. Maximum temperature 6 °C.Tonight:Coastal showers dying out with a widespread frost developing along with freezing fog, which could become extensive. Winds remaining light. Minimum temperature -3 °C.
