BT Group Expects Sharp Reduction in Labor Needs by End of Decade
May 18 2023 - 4:25AM
Dow Jones News
By Adria Calatayud
BT Group said Thursday that it expects a reduction of up to 42%
in the internal and external workers it needs by the end of this
decade.
The U.K. telecommunications group said its total labor
resource--which includes both direct employees and nonemployees
supplied by a third party--will fall to between 75,000 and 90,000
by between fiscal 2028 and fiscal 2030 from 130,000 currently.
BT Chief Executive Philip Jansen said the company will be able
to rely on a smaller workforce and a significantly reduced cost
base by the end of the decade by digitizing the way it works and
simplifying its structure.
The disclosure comes two days after peer Vodafone Group said it
would cut around 11,000 jobs over the next three years as part of a
turnaround plan launched by its new CEO Margherita Della Valle.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
May 18, 2023 04:10 ET (08:10 GMT)
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