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BT cut 15,000 more jobs, annual loss of £134m

Apparently BT are to chop roughly 15,000 jobs this year, with most of the job cuts being in the United Kingdom as BT reports an annual loss of a huge £134 million reports an article on the BBC.

British Telecom confirmed it had already cut 15,000 jobs last year which was 5000 more than they anticipated. BT’s problems centre round its global services unit, a unit that handles large business network systems, and they have already taken about a £1.5 billion write-down at said unit.

BT has also stated they would make £525 million in pension contributions each year for the next 3 years, and has also cut their dividend from 15.8 pence down to 6.5 pence. This next 15,000 job losses will represent 10 percent of BT’s current workforce.