Report: UK telecom company BT to cut 10,000 jobs

By
April 12, 2009 21:36

Telecommunications company BT Group PLC is set slash 10,000 more jobs, according to a British newspaper report, or about 6 percent of its global work force. The Sunday Times of London said the cuts would be announced next month as the company announces what the paper called horrendous year-end results. BT, whose share price has plunged from more than 40 pence (US60 cents) last year to about 12 pence (US17 cents) Friday on the London Stock Exchange, has only just wrapped up its latest costing-cutting program, which laid off 10,000 other workers. Most of those layoffs hit workers employed through outside agencies, contractors and offshore workers. The Times said the new layoffs would be spread throughout the company.


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