BT to axe 13,000 jobs and move out of London HQ

BT is to axe about 13,000 jobs over the next three years and move out of its central London headquarters as it seeks to cut £1.5bn in costs to rebuild investor confidence after a torrid 18 months.

The telecoms company said the job losses would come mainly from back office and middle management roles. The group also said it would be hiring about 6,000 new staff, primarily in customer service and engineering.

BT’s standalone subsidiary Openreach, which is responsible for building and managing most of the UK’s broadband infrastructure, has already announced 3,500 of the new jobs. It is looking to hire engineers this year as part of a plan to speed up the rollout of fibre broadband and eliminate “not-spots” in cities and suburban areas.

More details soon …