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BT to restructure operations, cut 4,000 jobs

BT says it will cut 4,000 jobs form its global services unit, taking a restructuring charge of 300 million pounds.

business Updated: May 16, 2017 17:02 IST
Reuters
Reuters
London
BT,telecom,accounting scandal
(Reuters photo)

BT, Britain’s biggest telecoms group, is on a restructuring drive to cut costs and save save in total around £300m over two years.

Reporting fourth-quarter revenue of 6.12 billion pounds, up 10%, and adjusted earnings of 2.07 billion pounds, up 2% and broadly in line with forecasts, the company said it had had a “challenging year”.

It said it would cut 4,000 jobs form its global services unit, taking a restructuring charge of 300 million pounds.

First Published: May 11, 2017 13:13 IST