BT to layoff 15,000 more employees

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British Telecom
London, May 14: British Telecom on Thursday, May 12 announced its decision to cut 15,000 jobs more after a 1.58 billion pound ($2.4 billion) writedown tipped it into a quarterly loss and its pension costs almost doubled.

BT's woes centre on its Global Services Unit, which handles the network systems of large firms and which the company had for years striven to make its growth engine. The group also said it would almost double its pension contributions to 525 million pounds ($794.1 million) a year.

With the latest job cuts BT's 10 pc workforce will be effected. The previous cuts have reduced BT's total number of employees to about 147,000. BT sources said it hoped to remove the positions through natural wastage and voluntary redundancies, and added that it did not have plans for compulsory layoffs.

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