- BT could save £ 3 billion by reducing up to 55,000 workers, IA could end even more contracts
- If shares prices do not increase, BT could have to turn to Openreach
- Group’s income fell 2% year after year
The BT CEO, Allison Kirkby, has indicated that the growing adoption of artificial intelligence could lead to even deeper cuts beyond current plans to cut the company’s workforce.
Kirkby confirmed the plans, which are expected to save £ 3 billion by 2030, to reduce 40,000-55,000 jobs for the end of the decade.
In an interview with the Financial TimesKirkby declared: “Depending on what we learn from AI … there may be an opportunity for BT to be even smaller at the end of the decade.”
BT CEO blames AI for more employment cuts
Kirkby took over BT in 2024, replacing former CEO Philip Jansen, and has led several savings exercises, including the sale of non -basic assets such as the Italian and Irish units of the company.
He FOOT He also noted that BT had left his international business last month, citing sources familiar with the matter, which suggests that he could be open to offers in him.
However, the CEO believes that the current price of BT shares (£ 186.45) does not reflect the true value of Openreach: its broadband network arm. If this perceived undervaluation continues, BT might consider making Openreach approach after the fiber deployment is completed, however, Kirkby said he would prefer that the price of the shares would improve instead of having to resort to another spin -off.
Speaking about the last full fiscal year of BT, which ended on March 31, Kirkby said the company had realized “more than 900 million annual cost savings.” She blamed “lower sales and telephones” in the drop of 2% in revenues, to £ 20.4 billion.
The range of BT throughout the United Kingdom could be about to strengthen even more The guardian Revealing that the company could have participated in initial discussions to buy TalkTalk, a smaller broadband supplier that has had financial problems.
However, this acquisition, together with the BT property of the EE mobile networks provider, could explain a great domination about the United Kingdom networks, which could generate an antitrust investigation.
The recently completed fusion of three and Vodafone was subject to in -depth investigation before finally approved by the United Kingdom Competition and Markets Authority (CMA).
