BT Group Expects Sharp Reduction in Labor Needs by End of Decade
By Adria Calatayud
BT Group said Thursday that it expects a reduction of up to 42% in the internal and external workers it needs by the end of this decade.
The U.K. telecommunications group said its total labor resource--which includes both direct employees and nonemployees supplied by a third party--will fall to between 75,000 and 90,000 by between fiscal 2028 and fiscal 2030 from 130,000 currently.
BT Chief Executive Philip Jansen said the company will be able to rely on a smaller workforce and a significantly reduced cost base by the end of the decade by digitizing the way it works and simplifying its structure.
The disclosure comes two days after peer Vodafone Group said it would cut around 11,000 jobs over the next three years as part of a turnaround plan launched by its new CEO Margherita Della Valle.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
May 18, 2023 04:10 ET (08:10 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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