When BT (BT.L) releases its 2009 annual results this week, one fact that will come out is that it has surpassed its workforce reduction target by about 5,000.
According to a Sunday Telegraph report, BT would lay off 15,000 employees in the year to April in addition to the 15,000 employees it laid off in 2008. This means that over the course of the last two years, BT has cut 35,000 employees.
Although the report did not cite specific sources, BT's finance director, Tony Chanmugam, said it plans to cut another 5,000 positions. BT's downsizing efforts are part of a larger plan to reduce costs. Overall, BT expects to save $2.97 billion in the year to April.
For more:
- The Sunday Herald has this article
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