BT Group became the latest European operator to reveal large-scale job cuts as it continues efforts to slim down the business, with the UK-based company planning to reduce its workforce by up to 55,000 by end-March 2030.

In its financial results statement for fiscal Q4 2023 (to end-March) the company detailed a plan to reduce staff, including contractors, from the 130,000 currently on its books to between 75,000 and 90,000.

It plans to complete the cuts between its 2028 financial year (ending 31 March 2028) and end of its 2030 fiscal period.

CEO Philip Jansen stated the operator will become “a leaner business with a brighter future” and will continue to “build and connect like fury, digitise the way we work and simplify our structure”.

“By the end of the 2020s BT Group will rely on a much smaller workforce and a significantly reduced cost base,” he added.

During its earnings call, Jansen indicated workforce changes will partly be achieved by “natural attrition”, reskilling, increase in use of automation and a lower need for contractors moving forward as its fibre build nears completion.

UK news outlets including The Guardian reported 10,000 of the roles will be replaced by AI.

The latest changes at BT follow numerous cost cuts and structural changes in recent years.

Since April 2020 it achieved annual savings of £2.1 billion at a cost of £1.1 billion.

Earnings
In fiscal Q4 BT, which owns mobile operation EE, booked revenue of £5.1 billion, down 2 per cent year-on-year.

Net profit was £585 million, up from £388 million.

Figures for fiscal Q4 and comparisons have been adjusted to strip out specific items, such as a change in ownership of BT Sport.

Fiscal 2023 revenue fell 1 per cent to £20.7 billion with profit up 50 per cent to £1.9 billion.