BT to cut 13000 jobs

11 May, 2018, 01:39 | Author: Elaine Woods
  • BT is set to axe around 13,000 jobs most of which will be back office and middle management roles the company has confirmed

Remaining staff cuts are expected to impact upon BT's operations overseas.

BT has revealed plans to reduce its workforce by about 13,000 jobs over the next three years, with mainly back office and middle management roles set to be cut, as the telecommunications giant looks to "drive sustainable long term growth in value for shareholders".

The job cuts, the highest number by the former monopoly since 2008, will save 1.5 billion pounds in costs in three years, the company said.

On the flip side, Britain's biggest telecoms operator said it would hire about 6,000 front line engineers, customer service and cybersecurity experts.

BT had a total of 106,400 employees according to its most recent 2017 annual report.

In early trading, BT shares dropped by over 8% at 218.65p.

The announcement comes almost a year after the company said it was to axe 4,000 jobs as part of a restructuring of its Global Services unit.

Gavin Patterson, BT's chief executive, who has faced City speculation over his own role as the company has struggled over the last 18 months, said: "I am really excited to be delivering the next stage of BT's transformation and have put in place the team that will support me in achieving these objectives". "We recognise that it is going to affect a lot of people but ultimately we need to do these things to ensure that we remain a competitive business going forward and that we can benchmark our performance against peer companies".

Windows Timeline is coming to Android in the Microsoft Launcher
Diane Bryant, a former Intel executive who is now at Google's cloud, told Wired that Microsoft was the reason Intel bought Altera. Sets will allow you to open multiple instances of your apps in tabs, just like you would use your browser.

Trump to send 57000 Hondurans back home
Groups that favor limited immigration praised the administration's decision, saying the effects of Hurricane Mitch are long-gone. DHS typically terminates TPS for a country with an effective date in the future so people can get their affairs in order.

Here's How Tiger Woods Shot Friday
Peter Malnati is the surprise halfway leader at the Wells Fargo Championship after the big names all struggled in Charlotte . Tiger Woods' putter continued to let him down in Friday's second round of the Wells Fargo Championship in Charlotte , N.C.

He added that it was the "right thing for the business" and helps take BT "into its next chapter". The plan will additionally see simplification of the company's management, increased automation for improving productivity, new digital products, and consolidation of its supplier base.

BT is focusing on investing ultrafast broadband and to lead in 5G.

BT's headquarters near the London Stock Exchange will be closed, although it will still maintain a smaller presence in London at a location yet to be decided.

Around 80 per cent of its staff are now based in around 50 locations, with some cities hosting multiple offices.

As part of the restructuring the firm will abandon its London HQ in favour of 30 "modern strategic sites".

The strategy changes came as the group also reported its full-year results showing a 3% drop in fourth-quarter revenue to £5.967bn, just missing analysts' expectations, while core earnings rose by 1% to £2.083bn.

It booked a £241 million restructuring charge over the period, when it cut more than 2,800 roles mainly across managerial and back office staff.

Recommended:

  • Youth who was injured critically in Shopian clashes, succumbs

    Youth who was injured critically in Shopian clashes, succumbs

    A policeman and a soldier of 44 RR were also injured in the initial exchange of fire with the militants, reports said. Security personnel and protesters clash following a gunbattle between the forces and rebels in Srinagar , on Sunday.
    Ajinkya Rahane to captain for inaugural Test against Afghanistan

    Ajinkya Rahane to captain for inaugural Test against Afghanistan

    READ: 44 for England tour, former cricketers stumped! He was part of India's 50-over squad during the South Africa tour. Incidentally, the last Test match that he played was against Australia at Dharamasala in March, last year.

    Stephen Curry To Start Game 3 Against Pelicans

    I really disliked the rushed and out of rhythm shots that plagued the Pelicans , especially in the first half of that game. The C's have enough to put up an epic fight, but ultimately, the Sixers will " raise the cat " as they win the series.
  • Man Preliminary Socceroos World Cup Squad Announced

    Man Preliminary Socceroos World Cup Squad Announced

    Van Marwijk will trim his squad down to 26 next week before the Socceroos head overseas to Turkey for a 20 day camp. Striker Jamie Maclaren was also recalled after some strong performances for Hibernian in the Scottish Premiership.
    Boy Scouts name change to

    Boy Scouts name change to "Scouts BSA" effective next year

    We sponsored award breakfasts for the athletes and other support activities for the benefit of both the boys and girls. Smith said it totally changes the dynamic of the Boy scouts. "How do you manage these strategic tensions?" she asked.
    'Bullying others': Iranian FM slams USA  over its handling of nuclear deal

    'Bullying others': Iranian FM slams USA over its handling of nuclear deal

    USA secretary of state Mike Pompeo said the files provided proof that the Obama-era nuclear deal was "built on lies". Technically, Trump must decide by May 12 whether to renew "waivers" suspending some of the USA sanctions on Iran.
  • Boris Johnson tears into Prime Minister's

    Boris Johnson tears into Prime Minister's "crazy" customs plan

    Main Brexiteer Jacob Rees Mogg mentioned immediately it was one other instance of "Mission Concern" taking up once more. The UK would collect tariffs set by the EU customs union on goods coming into the UK on behalf of the EU.
    Carlos Carvalhal to leave Swansea City

    Carlos Carvalhal to leave Swansea City

    Huddersfield sealed a huge point against Manchester City at the weekend and you'd expect that to be just about enough for them. Yet that season was over 42 games not 38 so, by any yardstick, City have been truly exceptional.
    Krunal blitz gets Mumbai Indians over the line

    Krunal blitz gets Mumbai Indians over the line

    He alongwith KL Rahul (24 off 20) gave KXIP another cracking start as the destructive duo shared a 54-run stand in 6.4 overs. There is also reasonable doubt over Yuvraj Singh's inclusion in today's game, as he had been dropped for the last game too.
  • National Football League  suspends Saints running back Mark Ingram

    National Football League suspends Saints running back Mark Ingram

    Ian Rapoport of NFL.com and the NFL Network reported the suspension on Twitter and NFL.com announced it on the league's website. Ingram is headed into a contract season, and the Saints will probably be preparing to move on.

    Matt Harvey's notable highs and lows with the Mets

    He relieved Jason Vargas with NY trailing 6-0 in the fifth inning and gave up Ozzie Albies' three-run homer in a five-run seventh. Last season, he was 5-7 with a career-worst 6.70 ERA, and missed 2 1/2 months with a stress fracture in his scapula.
    Primary Election set for May 8

    Primary Election set for May 8

    That includes a relatively unusual Libertarian primary in Congressional District 4 between Barbara Howe and Scerry Perry Whitlock. The rest of the candidates have no primary opponent, and some face no Democratic challenger in August either.


Popular

California's new homes to have solar by 2020; SunRun shares jump
There are still significant upfront costs of requiring the solar panels on rooftops of new homes. But consumers would get that money and more back in energy savings, according to the commission.

Justin Bieber "Is Convinced" He'll Get Back Together with Selena Gomez
The performer wore a floor-length ruffled gown with silk gauze and hand-pleated frills, and carried a turnlock-style handbag. C'mon! I know it's a millionaire deal with Coach but still.

Utah homicide suspect arrested in southeast Colorado
A man wanted for murdering and sexually assaulting a teenager in Salt Lake City Utah was taken into custody in Rocky Ford. The warrant stems from earlier sexual involvement with the Bagshaw, police have said.

What will happen when our sun dies?
According to Science Daily, a team of researchers designed a new model predicting the lifespan of stars. Data from the model also sheds insight on a problem that had astronomers confused for years.

Delhi, UP, Haryana Brace For Thunderstorms Today
"Normal movement of trains will be restored once the wind speed is less then 85kmph for continuous five minutes", the DMRC said. Keep away from doors, windows, fireplaces, stoves, bath-tubs, or any other electrical charge conductors", the advisory stated.

Britons set to sizzle in record-breaking Bank Holiday heat
The record highest temperature for May is 32.8C (91F) which was recorded in 1922 and 1944. Cloudier over Northern Ireland and Scotland with some patchy light rain at times".

Humbled by public support, Warner focuses on family
Smith is expected to be back in the Australian side for the 2019 World Cup but would not be allowed to resume the position of captain for the mega event.

In election manifesto, Erdogan vows new military campaigns
Referring to the country's new constitution, he said: "In this new democratic system, stability will become permanent". " Turkey will be even more attractive to investors", the president said.

Socceroo helps ensure Brighton's Premier League survival
The club's chairman Tony Bloom said: "When we finally got to the Premier League , it was about nights like tonight". "I don't think he wants to be stuck on the touchline but he's not going to get that at Manchester United ".

American Gods season two goes into production, will premiere in 2019
The fans will get to see a lot of familiar characters on the show, as the war between the Old gods and the New gods starts. Just the fact that, despite some speedbumps, a second season is still happening and is now in production is great news.