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UPDATE BT Could Axe 10000 of its 160000 Strong Workforce

Posted: 12th May, 2009 By: MarkJ
The Times reports that BT could announce a cut of around 10,000 jobs from its 160,000 strong workforce. The move is likely to come on Thursday this week when BT reveals its full year results and a possible 50% profit slide, due in no small part to the recession. There's also an £8 billion strong deficit in the company’s £33 billion pension fund to consider. Last year’s pledge to spend £1.5bn rolling out super-fast fibre optic (FTTC, FTTP) broadband services will hopefully not be impacted.

UPDATE - 14th May 2009:

BT has confirmed that it will sack 15,000 staff by the end of 2009, considerably more than expected. It will also remove the same number in 2010.
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