BT Faces Revenue Decline and Job Cuts Amid Cost-Cutting Drive
The telecom giant warns of potential price hikes following a £100m tax impact and plans further job reductions to offset rising costs.
- BT has revised its revenue forecast downward, expecting a 1-2% decline due to weaker international trading and reduced sales in less profitable areas.
- The company has announced an additional 2,000 job cuts as part of a larger plan to reduce its workforce by up to 55,000 by 2030.
- BT's pre-tax profit fell by 10% to £967 million for the first half of the year, with revenues dropping 3% to £10.1 billion.
- CEO Allison Kirkby highlighted ongoing efforts to modernize operations and expand the full-fibre broadband and 5G networks across the UK.
- BT is considering a potential sale of its struggling global division while also exploring ways to optimize the unit if it remains part of the company.
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