Virgin Media O2 to cut thousands of UK jobs under plans to save £800m a year

Summary

City A.M. reported on Monday 2 November that Virgin Media O2's plans to axe up to 4,000 jobs could save the telecoms giant around £200m a year but may do little to ease its mounting debt burden, the broadband provider preparing to cut as much as a quarter of its 16,000-strong workforce. On Tuesday 3 November Virgin Media O2 said it will axe thousands of jobs among its 16,000-strong UK workforce under plans to save £800 million a year by 2029, The Independent reported, the Evening Standard and The Independent writing that the bulk of the savings, about £300 million, will come from job cuts. Up to 25% of the workforce could go as the telecoms group says it will increase use of AI in areas including customer service, The Guardian reported, Wales Online writing that the company says it will cut about 30 per cent of its 'people costs' as it invests in AI and the Manchester Evening News that the overhaul is expected to largely focus on head office, IT and support functions.

Latest: Virgin Media O2 said it will axe thousands of jobs among its 16,000-strong UK workforce under plans to save £800 million a year by 2029, The Independent reported, the bulk of the savings, about £300 million, coming from job cuts, according to the Evening Standard and The Independent, while The Guardian wrote that up to 25% of the workforce could go as the telecoms group says it will increase use of AI.

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