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.