UK phone group BT to cut 55,000 jobs by 2030

UK phone group BT

BT, the largest telephone and broadband provider in the United Kingdom, announced this Thursday (05.18.2023) that it will cut up to 55,000 jobs by 2030, after two years of cutting costs in a difficult economic context.

“BT Group will have a much tighter workforce and significantly reduced costs,” CEO Philip Jansen said in a statement.

This represents up to 42% of the 130,000 people employed by BT, either directly or through intermediaries.

The group affirmed this Thursday that its cost reduction plan, applied since April 2020, is on track, “with gross savings of 2,100 million pounds” (2,600 million dollars), and is close to its target of 3,000 millions.

For its part, its compatriot and competitor of mobile telephony Vodafone announced on Tuesday the abolition of 11,000 jobs in the next three years to try to boost its competitiveness after unsatisfactory results.

This represents just over 10% of the Vodafone workforce, which was 104,000 workers in 2022.

These announcements of job cuts are part of a crisis context in the United Kingdom due to the high cost of living, with inflation that does not fall below 10%, the highest in the G7.