BT has announced today that it will be cutting 15,000 jobs throughout the UK during the rest of 2009. The worrying news came after the broadcasting company announced that it has racked up an annual loss of £134 million.
The 15,000 job cuts will see a 10% drop in the company’s workforce. However, employees are being urged not to panic just yet as the broadcasting giant has assured its staff that it’s keen to avoid enforcing compulsory redundancies.
Chief Executive, Ian Livingston, explained that they would be looking to ‘minimise the number of permanent staff’ lost as part of the shake up, but industry experts are already voicing doubts.
The problem lies within the company’s global services unit, which has seen a ‘£1.6bn write-down’ according to the BBC.
“Three out of four of BT’s lines of business have performed well in spite of fierce competition and the global economic downturn,” Mr Livingston told the news service. “However this achievement has been overshadowed by the unacceptable performance of BT Global Services and the resulting charges we have taken.”