Open

Coming up

Don't miss

Replay


LATEST SHOWS

FRANCE IN FOCUS

Politics: parties under pressure

Read more

REPORTERS

Inside the CIA’s secret prisons

Read more

FOCUS

In Burma, the rise of radical Buddhism

Read more

ENCORE!

Haute Couture: the hand-stitched clothing made in Paris that sells for the price of small yachts

Read more

IN THE PAPERS

'Caution, another Cast Lead lies ahead'

Read more

BUSINESS DAILY

Rising into the ranks of Haute Couture

Read more

DEBATE

Gaza: How to Stop the Spiral? Israel Readies For Ground Offensive

Read more

DEBATE

Gaza: How to Stop the Spiral? Israel Readies For Ground Offensive (part 2)

Read more

MEDIAWATCH

A thin line between fact-checking and propaganda in Gaza social media coverage

Read more

  • Inside the CIA’s secret prisons

    Read more

  • Are French high school students getting smarter?

    Read more

  • Disgraced Suarez leaves Liverpool for Barcelona

    Read more

  • French ‘Civic Service’ eyes massive expansion amid huge demand

    Read more

  • Kurdish forces take over two oilfields in northern Iraq

    Read more

  • Amazon snubs French free delivery ban with one-cent charge

    Read more

  • In Pictures: Petrol station hit by Hamas rockets

    Read more

  • Manhunt as FIFA partner flees Rio hotel to avoid arrest

    Read more

  • Video: Living in Tel Aviv, under threat of rocket attack

    Read more

  • Video: Palestinians fear full Israeli military offensive in Gaza

    Read more

  • US prepared to negotiate Gaza ceasefire, Obama says

    Read more

  • French companies will have to accept anonymous CVs

    Read more

  • Ukrainian forces close in on Donetsk

    Read more

  • Germany asks US intelligence station chief to leave country

    Read more

  • Tour de France passes WWI Chemin des Dames battlefield

    Read more

Business

Media reports say BT to slash 10,000 jobs

©

Latest update : 2009-04-13

British media reported on Sunday that British Telecom will cut another 10,000 jobs in coming months to reduce costs. BT calls the number "speculative". Preliminary results out next month are likely to be among BT's worst since its 1984 privatisation.

AFP - British telecoms operator BT will cut 10,000 jobs when it reveals its preliminary results next month, reports said Sunday.
   
BT will also make a 1.5 billion pound (2.2 billion dollar) writedown in its under-fire Global Services division and slash its dividend by about 60 percent, according to the Daily Telegraph's website.
   
The job losses, which the report said will be in addition to the 10,000 job cuts BT made last year, are expected to be spread across the company's 160,000-strong global workforce.
   
BT's share price has plunged from 235 pence to 81 pence in just over a year, following a series of bad financial results.
   
The company warned in October that the previous management of Global Services, which supplies telecoms and IT services to multinational companies and government bodies, had overestimated the profitability of some of its biggest contracts.
   
BT's results are likely to be among the worst since it was privatised in 1984, the Telegraph and the Sunday Times reported.
   
Its poor financial performance in the face of the global economic slowdown is compounded by the cost of trying to plug its huge pension deficit.
   
A BT spokesman said the reports of an additional 10,000 job cuts were "speculative numbers."
   
"The company is focusing on cost reductions," he added.
 

Date created : 2009-04-12

Comments

COMMENT(S)