Virgin Media O2 set to cut thousands of jobs to reduce costs
The broadband firm has not finalised numbers but it is likely be a sizeable chunk of staff, the BBC understands.
Thousands of Virgin Media O2 staff are facing redundancy as the telecoms firm attempts to save money in the face of billions of pounds of debt and tougher competition.
The broadband provider has not finalised the number of roles to be cut but it is likely be a sizeable chunk of its 16,000-strong workforce, the BBC understands.
Virgin Media O2 has billions in debt on its balance sheet and is tackling both smaller providers as well as giants like BT, which has agreed a deal to acquire rival TalkTalk, which Virgin Media O2 has firmly opposed.
As of 30 June, Virgin Media O2's total liabilities stands at £27.2bn while it holds assets worth £45.9bn, according to the firm's latest accounts.