Published reports in the U.K. suggest that telco giant BT is considering cutting more jobs, possibly numbering in the thousands, and also is expected to sharply cut its dividend for the first time in several years. The company is scheduled to report its full fiscal year results on May 14, and it's possible a formal announcement on any further cuts will not come until then.
BT just recently finished cutting about 10,000 jobs as part of previously announced restructuring. The reports were published in the Financial Times and other publications, though BT officially declined to comment. In addition to previous job cuts, the telco has frozen pay for many positions as it attempts to overcome hurdles that include unexpectedly poor returns from its Global Services unit.
- The Financial Times has this report
BT job cuts were on a course to hit 10,000
BT announced a broad pay freeze last month