Broadband ISP TalkTalk to Slash More UK Jobs After Refinancing Deal
Debt-troubled UK internet provider TalkTalk has confirmed that its staff were yesterday informed about another round of significant redundancies, which one report indicates could affect almost a quarter (c. 130) of their consumer division workforce across the country. But the specifics won’t be known until after Christmas.
The move comes shortly after the group’s recent decision to accept a refinancing package worth roughly £400m (here and here), which saved TalkTalk from the immediate risk of a default. The deal essentially extended the group’s debt maturities to September 2027 and buys them more time to fix the foundations, which won’t be an easy task (here).
At the same time, TalkTalk’s most recent financial results (here) revealed that their on-net customer base (fibre FTTP/C and broadband) fell again to 3.6 million (down from 3.94m in 2023), although their Ethernet (leased lines etc.) base grew to 75,000 (up from 69,400).
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Suffice to say that, given the recent results and refinancing deal, there was already some speculation that the provider might have to slash more jobs and now it has been confirmed.
A TalkTalk spokesperson said (Manchester Evening News):
“This is the first stage in a multi-year transformation of our business to deliver differentiated service and product to our customers. We are simplifying our business to ensure that we can continue to offer great value connectivity to our millions of customers across the UK.
As part of this, we have made the difficult decision to launch a consultation about the future of some roles at TalkTalk’s consumer business.”
In addition, some of ISPreview’s sources have indicated that TalkTalk’s approach to “simplifying” their business may involve moving to adopt more of a virtual operator model, although the details of how this might work, if true, remain unclear.
Mark is a professional technology writer, IT consultant and computer engineer from Dorset (England), he also founded ISPreview in 1999 and enjoys analysing the latest telecoms and broadband developments. Find me on X (Twitter), Mastodon, Facebook, BlueSky, Threads.net and Linkedin.
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I don’t understand how they have lost so many customers. Okay, their customer service has never been good, but then again that is the same for most of the large providers and yes the quality of their service was not great on ADSL, but that have long past.
I know of a few people who use Talk Talk on both FTTC and FTTP and they are no worse than any other large broadband provider and the prices are more or less on par with others.
I would not touch them with a bargepole, but most other people would not care as long as they have connection at a good price.
Strange how the mighty have fallen, I do feel for the people losing their jobs.
“I don’t understand how they have lost so many customers.”
“I would not touch them with a barge pole.”
Haven’t you answered your own question?
It’s frankly a bit insulting to insinuate that ‘most other people’ aren’t as clever or discerning as you.
I’ve seen cheaper and/or better elsewhere.
I truly feel for the people affected, who as always are the most impacted whilst the consultants get big paydays. Not forgetting of course the architects of this tragic story who got rewarded with Damehoods. Dido and Tristia should be ashamed.
“We’ve already got a reputation for poor customer service, so how can we turn the company around?”
“Sack even more of them?”
“Genius!
Yeah but the real fix, change those at the top never goes well with ‘the board’, they’d have to admitt their incompetance, and then theres that lorded them with award – their discernment is what, also lacking.
Mind you have to ask what are the shareholders doing about the board, Oh just taking the money and running?
Wonder if upcoming increase in NI and minimum wage costs have had any bearing….
Take the attitude:
“We can fight increased employer costs with – growth”
Very much depends on the spin, read ‘ – ‘ as a hyphen, the way to combat increased costs is – to grow your business, read it as a minus and the extra costs are funded by negative growth. And we question why companies outsource customer services.
It’s not 130 people, it’s 130 roles. Some of those have dozens of employees like customer service agents. It’s hundreds and hundreds of people, they’ve not announced a figure even internally.
And this is tranch 1. Everyone expects the rest in spring when they move to a 3rd party offshore company, they’re only keeping tech on now to complete the transition then all us will go. talktalk will be a managed service and everyone will go. They also rushed the consultation so no one could prepare probably to use the same crappy terms agreed with the 2nd tranch of redundancys.
I been with talktalk for many years and never really had a problem with them, my original contract was up a few years ago and never signed anything else since it just carried on as it was until i found out i been paying for fibre optic which i never had for 2 years plus and like I said never going into a new contract so call me thick if you like i deserve it. Anyway after all the years I happily stayed with them I decided to go over to EE same price but with fibre optic this time and done it all by the book just to wake up this morning to see talktalk have taken £170 out of my account which i don’t have much in anyway I couldn’t believe it so after all the years I’ve been there they still needed to rip me off so losing your jobs who cares you bunch of pricks I hope your all on your arse just like me happy Christmas you jobless tossers.