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business2 years ago

BT Group Names Allison Kirkby as First Female CEO

BT Group, the largest mobile and broadband supplier in Britain, has announced the appointment of Allison Kirkby as the new CEO, replacing Philip Jansen. Kirkby, who has experience in the telecoms industry, will take over the role by the end of January 2024. Jansen will support the transition until March 2024 before retiring. Under Jansen's leadership, BT has focused on building a national fibre network and offering discounted wholesale fibre pricing. The company reported positive financial results, with adjusted EBITDA up 5% to £2 billion ($2.57 billion) and pre-tax profit of £536 million.

via CNBC|
#allison-kirkby#bt-group#business
business2 years ago

BT to cut up to 55,000 jobs by 2030 with AI replacing a fifth.

BT Group plans to cut up to 55,000 jobs, including contractors, by 2030, which is over 40% of its workforce, as it completes its fibre roll-out and adapts to new technologies such as AI. The company reported pro forma revenue and core earnings growth for the first time in six years in the year to the end of March, but the cost of transforming the business and the hit to its free cash flow took a toll, sending its shares down 7% in morning trade. BT's total number of workers would reduce from 130,000 to between 75,000 and 90,000 by its 2030 financial year at the latest.

via Reuters|
#ai#bt-group#business
business2 years ago

BT to cut 55,000 jobs by 2030, with AI replacing up to a fifth.

BT Group plans to cut between 40,000 to 55,000 jobs, marking a 31-42% reduction in company staffing, by 2030. The layoffs will include both direct BT employees and third-party workers. The announcement comes as BT Group reported a 5% increase to £7.9 billion ($9.8 billion) of adjusted core earnings for the full year leading to March. The company expects pro forma EBITDA growth in 2024, along with a capital expenditure of £5 billion to £5.1 billion. It anticipates it will be a "significant beneficiary of the UK Government's full expensing scheme" between the 2024-2026 financial year period and pay no U.K. cash tax over the next three years.

via CNBC|
#bt-group#business#ebitda-growth
business2 years ago

BT Plans to Cut 55,000 Jobs by 2030 with AI and Fibre Implementation.

BT Group plans to cut up to 55,000 jobs in the next five to seven years, reducing its total workforce to between 75,000 and 90,000 by 2028-2030, from 130,000 at present. The UK telecom company aims to use technology to cut costs and simplify its business. CEO Philip Jansen said the new BT Group will be a leaner business with a brighter future. The move follows Vodafone's announcement earlier this week that it would cut 11,000 jobs over three years.

via CNN|
#bt-group#business#job-cuts