7 articles | last updated: May 16 13:23:41
CEO Allison Kirkby outlines strategy to double cash flow, streamline operations, and focus on UK market by 2029.
- BT aims to cut £3bn in costs by 2029 after achieving an earlier £3bn savings target ahead of schedule.
- Company plans to reduce workforce by up to 55,000 jobs, with 10,000 roles replaced by AI.
- Shares surged up to 17% following the announcement, marking a significant one-day gain.
- BT's full-fibre broadband rollout has reached 14 million premises, with a target of 25 million by 2026.
- Revenue rose by 1% to £20.8bn, but pre-tax profits fell to £1.2bn due to a large writedown and rising interest rates.
People, Places and Things In This Story
- BT Group Telecommunications company
- Allison Kirkby President of TeliaSonera
- United Kingdom Country in Europe
- Artificial intelligence Field of study
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