The British telecom provider will target non-customer facing positions across its 15,000-strong workforce to reduce total staff costs by roughly 30 per cent. This restructuring coincides with an operational pivot that includes pausing independent infrastructure expansion and holding talks to utilize BT's network instead. Chief Executive Lutz Schüler attributed the decisive turnaround to challenging economic conditions, strict fibre regulations, and recent subscriber losses in the fixed-line sector.
Key points
Most planned job reductions will be concentrated heavily on non-customer facing roles acr…: Most planned job reductions will be concentrated heavily on non-customer facing roles across the telecom business.
Management is exploring an agreement to utilize BT's existing infrastructure rather than…: Management is exploring an agreement to utilize BT's existing infrastructure rather than continuing its independent fibre roll-out.
Stiff competition from alternative networks and tough regulatory frameworks pushed the pr…: Stiff competition from alternative networks and tough regulatory frameworks pushed the provider to prioritize debt reduction over capital expansion.
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LONDON, Nov 3 : British mobile and broadband company Virgin Media O2 is cutting jobs, halting its fibre roll-out and is in talks to use its bigger rival BT's network, as it seeks to increase its profitability and reduce debt.
The company, jointly owned by Liberty Global and Telefonica, is being squeezed by the roll-out of BT's fibre network and scores of small "alt-nets".
It said on Tuesday it would cut around 30 per cent of its total people costs, with the majority of the reduction coming from non-customer facing roles. The group employs 15,000 people.
Chief Executive Lutz Schüler said the changes were tough but necessary.
"Given the market conditions we face, the regulatory backdrop in fibre and the technological changes sweeping across all areas of the economy, standing still and doing what we’ve always done is not an option," he said.
The challenge facing the group was clear in its third-quarter results, with a loss of 23,300 fixed line customers taking its total to 5.5 million.
Its total revenue for the quarter fell 5.7 per cent to £2.4…
Strong quarterly pre-sales and an aggressive second-half pipeline sent shares climbing more than 6% following the company's latest financial update. Management is leaning on major regional expansions across Bengaluru, Pune, and the National Capital Region to meet ambitious annual booking targets. This accelerated launch schedule comes as the firm navigates rising home loan rates and slowing core sales volumes.
Investors responded aggressively to the massive infrastructure venture by bidding up the company's equity value. The newly announced consortium unites three major corporate entities to target surging demand across the computing sector. The substantial capital commitment positions the enterprise at the center of large-scale digital power and facility development.
Faced with a £22bn debt pile, the joint venture owned by Liberty Global and Telefónica is overhauling operations to protect future growth and prioritize investments. The telecommunications group is trimming its internal headcount and contractor base while leaning heavily on artificial intelligence across customer service, network planning, and fault resolution. These operational shifts will be paired with reduced capital expenditures and new wholesale access models.