Telecoms giant BT to cut 55,000 jobs worldwide [Video]

BT, the telecoms giant, has reported a decline in revenue amid weaker phone sales and confirmed significant job cuts.

The company saw a 3% drop in revenue to £5.2bn (€6.2bn) in the third quarter ending December, as lower handset sales and challenges in international markets outweighed price increases and growth in its ultra-fast broadband network.

BT has reduced its workforce by 3% to 117,000 in the first nine months of its financial year and plans to cut up to 55,000 jobs worldwide by 2030.

CEO Allison Kirkby is also considering selling or restructuring the company’s international division to refocus on the UK.

Despite a 1% rise in underlying pre-tax profits to £427m, BT shares fell 1.6% to 143.65p.

Last November, Kirkby warned that further price hikes might be necessary due to an additional £100m in costs following Budget measures.

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