By Islam El-Sakka
BT Group has shed nearly 8,000 jobs in the half-year to the end of March as part of an ongoing cost-cutting programme, while pre-tax profits rose 12% year-on-year to £1.1 billion for the six months to September 30.
Workforce Reduction and Cost Savings
The telecoms giant's total workforce, excluding its international business, fell by 7,731 to 90,000 over the half-year, representing an 11% year-on-year decline of 11,712 roles. Most of the reduction came from the Openreach division as it scales back resources after the peak of its fibre network build.
Cost-saving efforts delivered £312 million in annualised savings in the first half. BT has increased its savings target by £700 million and extended its restructuring programme to March 2030, aiming for a total workforce of about 75,000 by then, down from 130,000 in 2024. The planned joint venture with Verizon for the international arm will leave the UK-focused business with 65,000 to 70,000 employees, and the annual cost-savings target has been adjusted to £3.5 billion from £3.7 billion.
TalkTalk Rescue and Regulatory Scrutiny
Last month BT acquired TalkTalk's consumer division and wholesale arm PlatformX Communications for £400 million, protecting 900 jobs in Salford, Greater Manchester, and securing telecoms supply to 2.5 million households and public service customers including hospitals and schools. Culture Secretary Lisa Nandy issued a Public Interest Intervention Notice, ordering the Competition and Markets Authority to report by October 19.
Chief executive Allison Kirkby said the UK-centric strategy and transformation are delivering, the proposed international joint venture with Verizon is progressing at pace, and the TalkTalk acquisition protects millions of customers while creating value for stakeholders.
