Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Virgin Media O2 to slash up to 2,000 jobs by end of year

by July 25, 2023
July 25, 2023
Virgin Media O2 to slash up to 2,000 jobs by end of year

British mobile operator Virgin Media O2 has announced plans to lay off up to 2,000 employees by the end of the year.

The telecoms giant reportedly started to hand some staff redundancy notices on Monday night.

The job cuts, which include some organisational changes that had been previously revealed to workers, will amount to more than a tenth of the mobile operator’s workforce.

A Virgin Media O2 spokesperson said: “As we continue to integrate and transform as a company, we are currently consulting on proposals to simplify our operating model to better deliver for customers, which will see a reduction in some roles this year.

“While we know any period of change can be difficult, we are committed to supporting all of our people and are working closely with the CWU and Prospect along with our internal employee representatives as we have open and honest conversations on the future direction of our business.”​

It follows 55,000 roles being cut by rival BT Group back in May.

When outlining annual results, BT said it saw its “total labour resource” being reduced from 130,000 to between 75,000 and 90,000 by the end of the decade under a “rolling plan”.

Chief executive Philip Jansen told investors he expected that AI technology would replace around 10,000 roles.

Virgin Media O2 was created after a joint venture between US-listed Liberty Group and Spain’s Telefonica in 2020.

Earlier this month, Ofcom opened a probe into the company following complaints that the mobile operator was making it hard for customers to cancel services.

The Liberty Group also holds 5% in Vodafone, which also plans to slash 11,000 jobs around the world across three years.

It comes as the company projects a $1.6bn (£1.2bn) drop in annual free cash flow.

Read more:
Virgin Media O2 to slash up to 2,000 jobs by end of year

0
FacebookTwitterGoogle +Pinterest
previous post
Apple face $1bn lawsuit as UK app developers join forces against ‘excessive’ charges
next post
Train drivers announce new week-long overtime ban

You may also like

UK wellness start-up Zoe secures $15m investment to...

July 30, 2024

Tractors Gather at Parliament in Farmer Go-Slow Protest

March 26, 2024

Important Considerations in Agile Project Manager Interviews

July 5, 2024

Starmer promises ‘light at the end of the...

September 24, 2024

Royal Mail workers vote for further action ahead...

August 18, 2022

Google agrees to pay $700m after antitrust settlement...

December 19, 2023

BGF backs Yorkshire housebuilder with £10 million investment

April 20, 2023

Campaigners call for end to ‘peak fare rip...

March 6, 2023

Strategic Procurement Consulting: Maximizing Cost Savings and Efficiency

July 15, 2023

Trump’s tariff war may have catalysed UK-India trade...

May 7, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump ally stands firm against ‘big, beautiful bill’ despite pressure: ‘It’ll completely backfire’

      June 8, 2025
    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,571)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved