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British Telcom to cut 10,000 jobs by March 2009
Bangalore,
Nov
13:
British
Telecom
(BT)
which
has
a
large
offshore
presence
in
India,
on
Thursday,
Nov
13
has
decided
to
slash
a
major
chunk
of
its
workforce
of
10,000
employees
will
be
sacked
by
March
2009.
The
Company
announced
this
bad
news
after
its
pre-tax
profits
slumped
by
11
per
cent
in
the
first
six
months
of
the
current
year.
The
cuts
will
be
from
agency
and
contract
staff
and
offshore
workers,
the
company
said.
This
is
expected
to
include
job
losses
in
the
company's
operations
in
India.
BT
has
a
global
workforce
of
160,000.
Latest
figures
show
that
British
unemployment
has
hit
an
11-year
high
of
1.82
million
during
the
three
months
to
Sep
and
is
forecast
to
peak
at
3.3
million
by
2011.
BT
said
that
most
of
the
job
losses
would
be
among
contract,
agency
and
offshore
workers.
Sub-contractors
and
other
indirect
employees
would
also
lose
their
jobs,
the
group
said.
Ian
Livingston,
chief
executive
of
BT,
described
the
action
BT
was
taking
as
'decisive'.
BT
said
the
move
was
aimed
at
reducing
its
dependence
on
consultants
and
contractors.
About 4,000 of the job losses will be direct BT staff, the remaining 6,000 will be from related employees. BT admitted that its performance was "disappointing" and the results in its struggling Global Services division were 'simply not good enough', where earnings before interest, tax, depreciation and amortisation fell by 36 per cent to 119 million.
OneIndia News
