BT to Cut 4,000 Jobs in Digital Transformation
BT will axe 4,000 jobs as it hopes to save £300m through a restructuring programme across its Global Services.
Most of the cuts are said to come at its Global Services unit, which is to undergo a major strategic review. BT said this will help it deliver a more digital business, prioritising innovation in the cloud and reducing reliance on local network assets.
The review also comes in response to its accountancy scandal at its Italian business – which was first reported in January 2017 and has cost BT around £528m so far.
The investigation into the scandal exposed improper sales purchases, factoring and leasing transactions, and identified incidents of collusion over several years – which BT’s own monitoring processes had not spotted.
BT CEO Gavin Patterson said: “We’ve undertaken a strategic review of Global Services.
“Technology trends mean we are now less dependent on owning physical local network assets around the world, creating the opportunity to reposition Global Services as a more focused digital business.
“We’re also accelerating and expanding our cost transformation programmes, most significantly in our central Group Functions, in TSO, as well as in several other lines of business. This will help offset market and regulatory pressures and create the capacity for future investment.”Return to internet news headlines
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