LONDON (Alliance News) - BT Group PLC is set to reveal thousands of jobs cuts in its full-year results to be released next week, The Financial Times reported Thursday.
The newspaper, citing people familiar with the matter, reported that the company is planning to reveal new redundancies as part of a new corporate strategy. Last year, the telecommunications company announced 4,000 jobs cuts.
Analysts at Exane BNP Paribas have estimated BT could cut a further 6,600 jobs to save GBP500 million over the next three years, while Morgan Stanley estimated 6,500 job cuts, according to FT. In 2008 and 2009 BT's international business cut 30,000 jobs after facing some problems.
Shares in BT closed down 4.2% at 232.15 pence each on Thursday.
https://www.ft.com/content/8394f7b4-4ec6-11e8-9471-a083af05aea7
BT (BT.A)