British Telecom has announced it will cut up to 15,000 jobs, 10% of its workforce, this financial year after reporting further heavy financial losses this morning (May 14).
BT reported pre-tax losses of £134 million for the year to March 31.
Its Global Services Unit, which provides networked IT services, has once again dragged its finances into the doldrums via a £1.9bn write down and restructure, it says.
Job cuts will be on the table at all divisions including marketing, says a spokesman, who says it is not yet clear how the cuts will be split. The majority of the 15,000 jobs culled last year came from agency staff, while 5,000 were plucked from director positions.
However it says the jobs will go through “natural wastage” and voluntary redundancy arrangements rather than compulsory lay-offs.
The telecoms provider said in February it would merge the marketing team at its TV on demand service BT Vision into consumer marketing director Matthew Dearden’s team.
BT Vision customer acquisition head James Soames announced he was joining 118 118 as text marketing director following the merger.