BT Group: Savings, Job Cuts Necessary to Remain Competitive -- Update
05 Novembre 2020 - 07:15PM
Dow Jones News
By Adria Calatayud and Adriano Marchese
--BT Group said job cuts would largely be done by not filling
roles as they become vacant
--Savings plan seeks to improve productivity and efficiency in
its competitive markets
BT Group PLC said Thursday that it risks falling behind
competition if it doesn't improve its productivity and efficiency,
which would include cutting thousands of jobs.
The U.K. telecommunications company said its targeted cost
reductions of 2 billion pounds ($2.60 billion) by March 2025 will
result in a smaller number of people in the business, "largely by
not filling roles as and when they become vacant."
The savings and the job cuts come at a time that a company
spokesperson said was a period of immense change and investment for
BT's future.
The U.K.'s Communication Workers' Union said it will hold a
consultative ballot among its members in BT Group and BT's
Openreach and EE businesses between Nov. 19 and Dec. 10 that could
lead to a vote on whether to take industrial action.
The threat of a national strike is over the company's
reorganization plans, which could be the first in more than two
decades.
In May 2018, the company said it would cut 13,000 jobs over
three years. In May this year, the company said the first phase of
its transformation program was complete.
"If we don't improve our productivity and efficiency, BT Group
will fall behind in the highly competitive, highly regulated
markets in which we operate," a BT spokesperson said.
Write to Adria Calatayud at adria.calatayud@dowjones.com and
Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
November 05, 2020 13:00 ET (18:00 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Grafico Azioni Bt (LSE:BT.A)
Storico
Da Feb 2024 a Mar 2024
Grafico Azioni Bt (LSE:BT.A)
Storico
Da Mar 2023 a Mar 2024