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Telecom: BT Group announces drastic job cuts

Telecom: BT Group announces drastic job cuts

The BT Group plans to cut around 40,000 to 55,000 jobs by 2030. The British telecommunications provider wants to save costs and increase profits.

The British telecommunications provider BT Group is making drastic cuts in personnel costs. The number of employees and contractors is expected to drop from around 130,000 to 75,000 to 90,000 by the end of the decade, according to the Deutsche Telekom stake in London. The reduction is to be carried out by the fiscal year ending in March 2030.

CEO Philip Jansen has already reduced the workforce significantly in recent years and increased profits. He is targeting savings of £3 billion (€3.5 billion) by the end of 2025 alone.

In the past fiscal year, the group turned over less, but earned more. Group sales adjusted for special effects fell by one percent year-on-year to just under 20.7 billion pounds sterling (23.8 billion euros). However, earnings before interest, taxes, depreciation and amortization (Ebitda) adjusted for special effects increased by five percent to a good 7.9 billion pounds. The key figures were about as expected by experts.

Source: Stern

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