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Virgin Media O2 plans thousands of job cuts in £800m savings drive

By ChordNews · First written (new coverage )

Virgin Media O2 to cut thousands of jobs as it plans £800m cost savings
Image: theguardian.com
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Summary

Virgin Media O2 plans to save £800m by 2029, with £300m coming from staff cuts, as revenue falls, The Register reports. The Guardian says up to 25% of the company’s 16,000-person workforce could go, and that the company plans to increase its use of AI, including in customer service, as it tackles a £22bn debt pile. This follows earlier reports that the company was set to cut thousands of jobs, though the number of roles had not been finalised.

This continues an earlier story: Virgin Media O2 set to cut thousands of jobs

Later: BT cuts almost 8,000 jobs amid sweeping cost-saving programme · Virgin Media O2 plans £800m savings, with up to a quarter of staff at risk, amid customer losses and a £22bn debt pile

Timeline

  1. The Guardian

    Source ↗

    The Guardian reports that up to 25% of Virgin Media O2’s 16,000-person workforce could go as part of an £800m savings drive, with £300m coming from job cuts, and says the company plans to expand its use of AI, including in customer service.

  2. The Register

    Source ↗

    The Register reports that Virgin Media O2 expects to deliver £800m in cost savings by 2029, including £300m from staff cuts, as revenue falls.

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