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BT to shed 10,000 more UK contractors and agency staff

Published on May 15, 2009 |

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Following a series of poor financial results, BT has announced further job cuts - thought to include another 10,000 contractors and agency staff over the next year.

As part of a plan to slash costs by £1bn during the 2009/10 financial year, the company has suggested that it will shed a further 15,000 jobs, on top of the 15,000 which have already been cut.

In a conference call, CEO Ian Livingston, said:

"We saw our permanent workforce reduce by about 5,000 last year and a cut of about 10,000 temporary and contractor jobs and we're probably going to see a similar reduction next year."

It is thought that at least one third of these jobs will go from BT's troubled Global Services division, which lost £1.5bn on revenues of £2.1bn over the last quarter.

Only last month, we reported that BT had cut rates by 30% across the Global Services division, which has been particularly badly affected by the recession as companies cut back on spending as bad economic news continues to flow.