BT (British Telecom), one of UK’s biggest telco companies, is preparing for another round of major layoff, with about 10,000 people to go out of jobs soon.
The detail of the redundancy exercise is expected to be announced on May.
In reaction to the news, BT’s share price dropped to 81 pence, one of the lowest levels since it was privatized in 1984.
Last year, more than 10,000 employees lost their job in another massive layoff done as part of the company’s plan to cut expenditures and save operational cost.
The upcoming layoff may not be the last of BT, with analysts predicting more and more workers will continue to be retrenched as the company looks at ways to reduce excess baggage as a result of employing a gigantic workforce size, totaling more than 150,000 people worldwide.
With a large employee size, the company has been facing challenges to maintain operational efficiency, as well as improving customer services to millions of its customers worldwide. Cases of BT customers complaining having to be rerouted to different regions to get access to support are nothing new.
BT was recently appointed the major contractor in a troubled upgrading program of the British NHS (National Health Services) involving a huge amount of 12 billion pound.