T The Guardian · 3 h ago Follow Companies

Virgin Media O2 to cut thousands of jobs as it plans £800m cost savings

Up to 25% of 16,000 workforce could go as telecoms group says it will increase use of AI in areas including customer service Business live – latest updates Virgin Media O2 is to cut thousands of jobs in an £800m cost-cutting drive as the telecommunications company aims to tackle its £22bn debt pile. VMO2, which is jointly owned by Liberty Global and Telefónica, said £300m of the savings target will come from job cuts that will reduce the company’s employee wage bill by 30% over the next two years. Continue reading...

Read on theguardian.com

This story comes from The Guardian's feed; the full article and all rights belong to the source.

0 0

#Virgin Media O2 #AI

Comments (0)

No comments yet. Be the first to comment.

Virgin Media O2 to cut thousands of jobs as it plans £800m cost savings

Comments (0)

Related news

Virgin Media O2 to cut thousands of jobs in bid to reduce costs

Independent Talent to Rep Outernet London for Creative Commercial Strategy (EXCLUSIVE)

Asda appoints former Morrisons boss as chief executive as sales struggle

Under-fire Poundland owner Gordon Brothers defends stewardship

Yvonne Bajela is bringing $17M in fresh capital to Europe’s startup scene

Aramco's profit rises as refining margins strengthen amid Iran war

Blackstone president calls for more equity to fund AI buildout as debt risks mount

Baked by Melissa enters Target with first at-home cupcake mix

Disney Expected to Lay Off Thousands of Staffers in Biggest Round of Cuts This Year

Kimberly-Clark closes its acquisition of Tylenol maker Kenvue. What to expect next

Palantir reports booming U.S. commercial revenue growth, topping government for first time

Roku Delivers Another Stellar Quarter: Q3 Sales Soar 24% as Media and Entertainment Ad Spending Sees Biggest Growth in Four Years

Jessica Alba Battled ‘Major Impostor Syndrome’ as She Built The Honest Company Into an Early Star-Led Business Success Story

Web host Squarespace lays off 19% of its employees

SpaceX is reportedly looking at buying Boost Mobile or using its cell network

Why Peacock is making a huge bet on YouTube

Anthropic releases amended IPO prospectus with third-quarter financials

Marvell to buy Lumentum in all-stock deal, a massive bet on AI connectivity

Netflix U.K. Layoffs Hit Up to 3% of London HQ, Production VP Anna Mallett Exits

Unions gain access to thousands of Google workers after UK employment rights overhaul

‘Harry Potter’ Agent The Blair Partnership Taps Merlin’s Will Obbard, Amazon’s Alex Flanagan for Senior Roles as it Eyes New Growth Phase (EXCLUSIVE)

Disney and the NFL Launch Limited-Edition Mickey & Friends Merch Ahead of Super Bowl LXI

Ryanair considers pay freezes and reducing crew on flights as fuel costs soar

Thousands of jobs at Virgin Media O2 to be cut