BT announces plans to cut 13000 jobs and quit London headquarters

General View Of British Telecom Head Quarters

BT said the job losses would come mainly from back office and middle management roles, with around two-thirds of the job cuts set to fall on the company's 80,000-strong United Kingdom workforce, with the remainder coming from the 18,000 staff it employs internationally.

The firm will hire about 6,000 employees to "support network deployment and customer service".

BT's job cuts come in the wake of continued, if slightly reduced, outlay by the company on Premier League football broadcast rights (£295m per season from 2019 down from £320m) and a £530m bill involved in clearing up an accounting scandal in Italy.

BT said it will owe top-up payments of £2.1bn over the next three years on an £11.3bn pension deficit, revealing the results of a long-awaited review with trustees.

Andy Kerr, CWU deputy general secretary telecoms & financial services, described the job losses as disappointing but said he welcomed BT's plans to invest and grow in the frontline areas where CWU members were primarily employed.

"We are a clear market leader in terms of the scale of our customer relationships".

"We have the UK's leading fixed and mobile access networks, a portfolio of strong and well segmented brands, and close strategic partnerships".

Winnipeg Jets move closer to Western Conference Final
He's also tied with Boston's Torey Krug for most points with 12 while skating an average of 26 minutes, 25 seconds a game. Nashville needs a repeat of game four. "I'm not going to do much grocery shopping", captain Blake Wheeler joked.

Patterson, in the role since 2013, said the restructuring, which comes after a tough 2017, would focus on the essential services needed by consumers and businesses.

"This position of strength will enable us to build on the disciplined delivery and risk reduction of the last financial year, a period during which we delivered overall in line with our financial and operational commitments whilst addressing many uncertainties". Revenue was down 1pc for the year to £23.7bn and 3pc for the quarter to £5.9bn.

The FTSE 100-listed firm is maintaining its dividend - despite worries over a possible cut - and has agreed a new pension funding plan to provide confidence about the long-term outlook.

Specifically in Global Services BT plans to introduce new digital products and focus more on its top global customers, while "significantly lowering costs".

Gavin Patterson, the chief executive of BT offered a predictably upbeat assessment of the changes. The integration of EE into BT is delivering run-rate cost synergies of £290m.

"We can see through regulatory pricing pressure and from 2021 onwards we can see earnings before interest, taxes, depreciation, and amortisation (ebitda) grow again", Patterson said in an interview on Bloomberg TV.

BT Tower in Central London.

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