UK telecom giant BT group has announced on Thursday that it will axe as many as 10,000 jobs by March 2009, primarily in UK, in an attempt to bolster its profitability.
The company notified that it had already shed around 4,000 jobs, as per its ongoing efficiency programme, and the remaining 6,000 will be cut by March next year, and agency workers, sub-contractors, and offshore workers would be among the worst sufferers.
Incidentally, a couple of weeks back, the company had warned its investors that it would fail to meet its projected targets, owing to dismal performance of its Global Services arm, and thereby signalled for massive job cuts to sustain its profitability at optimum levels.
Backing the move, BT avowed that it is lessening its dependence on contractors and consultants, by axing those jobs by 12 percent, whereas its direct staff number will be reduced by 4 percent.
Speaking on the financial results of second quarter, BT’s CEO Ian Livingston said, “Three out of our four business units, BT Retail, BT Wholesale and Openreach are delivering on or ahead of target”, and asserted that the profits from Global Services aren’t up to the mark, and the company would take “decisive actions to put the matter right”.
BT Group currently employs 160,000 workers globally, with around 90,000 direct jobs are based in UK.
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