Virgin Media O2 Plans Thousands of UK Job Cuts
Virgin Media O2 plans to cut thousands of UK jobs as it seeks about £800 million in savings by 2029.
About £300 million of the savings would come from cutting staff costs by roughly 30% across the company’s UK workforce of about 16,000 people.
The company has not said how many jobs will be lost. It said most of the affected roles would not involve direct contact with customers.
The restructuring will simplify management and reduce the use of contractors and suppliers. Virgin Media O2 also plans to use artificial intelligence more often to support decisions and deliver its work.
Chief executive Lutz Schuler said the decisions were difficult but necessary because of changes in the market, regulation and technology.
Virgin Media O2 said it does not plan to close any of its UK offices. These include offices in London, Reading, Leeds, Manchester and Glasgow.
Section: Business
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