Out go swathes of management and back-room jobs and in come new employees to “support network deployment and customer service”.
“It is critical that BT transforms its operating model to build a lean and agile organisation that delivers sustained improvement in customer experience and productivity,” says BT. BT aims to reduce costs by $1.5 billion.
A third of the job losses will be abroad in the Global Services which took a £500 million hit from an accounting scandal in 2017.
BT will leave its London HQ and move to smaller premises elsewhere.
Resources will be invested in capex to improve the network and in reducing the £11.3 billion pension fund deficit.
BT’s share price has halved over the past two years..