BT slashes workforce as Talktalk takeover adds to turnaround challenge
BT said 18,000 jobs were cut as it lowered costs and regulators began reviewing its TalkTalk rescue, which protects 2.5 million households.
- BT Group shares rose on Thursday, November 5, 2026, after the telecoms company reported a 12% pre-tax profit increase to £1.1 billion, while full-fibre connections exceeded 10 million in October.
- Cost-Cutting initiatives drove this profitability, with the company slashing 18,000 jobs since March as its Openreach division reduced resources following the peak fibre network build.
- Rescuing telecoms firm TalkTalk from administration for £400 million, the group secured service to 2.5 million households and vital public sector customers including hospitals and schools.
- Addressing pension constraints, BT reached a funding agreement replacing scheduled deficit contributions with zero-coupon bonds, reducing the funding deficit to £2.7 billion at June 2026.
- Although the company retained its approximately £2 billion annual normalised free-cash-flow target, management faces a substantial recovery effort to improve cash generation before March concludes.
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BT sees record demand for Openreach FTTP
BT, which acquired TalkTalk in October, has reported H1 2026 revenue of £8.8 billion (€10.5bn), up 1 per cent, attributed to higher handset revenues in Consumer, partially offset by declines in adjusted service revenue. The telco saw record customer demand for Openreach FTTP with over 1.1 million net adds in H1; total premises connected were […]
BT shares rise as profit improves, but cash flow falls 59% - FINCHANNEL
(The FINANCIAL) — BT Group (LSE: BT.A) shares rose on November 5 after the telecoms company reported higher half-year profit and announced a pension funding agreement. A sharp fall in cash generation, however, leaves a substantial recovery to deliver before its financial year ends in March. The stock traded at 240.40 pence, or £2.404, up […]
BT slashes workforce as Talktalk takeover adds to turnaround challenge
BT has cut its workforce by 11 per cent as boss Allison Kirkby presses ahead with an overhaul of the telecoms giant, just weeks after rescuing struggling rival Talktalk from administration. The former state monopoly said its workforce, including contractors, had shrunk to 90,000 over the past year, helping deliver £312m in annual savings as [...]
BT Reports Higher Profit After Cutting Costs, Adding Fiber Users
BT Group Plc reported higher profit last quarter after the former UK telecommunications monopoly slashed costs to focus on its core UK market and added more fiber users for high-speed internet service.
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