BT CEO warns that there can be larger Job cuts – and it is all the fault of AI
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- BT can save £ 3 billion by cutting up to 55,000 employees, AI could terminate even more contracts
- If the stock prices do not rise, BT may have to spin open streak
- Group income fell by 2% on an annual basis
BT CEO Allison Kirkby has indicated that the increasing acceptance of artificial intelligence can lead to even deeper cuts that go beyond the current plans to reduce the company’s staff.
Kirkby confirmed plans, which is hoped to save £ 3 billion by 2030, to reduce 40,000-55,000 jobs towards the end of the decade.
In an interview with the Financial timesKirkby explained: “Depending on what we learn from AI … there can be an opportunity for BT to be even smaller towards the end of the decade.”
BT CEO blames AI for further job losses
Kirkby took over BT in 2024, to replace former CEO Philip Jansen, and led various savings exercises, including selling non-core assets such as the Italian and Irish units of the company.
The Ft It also noted that BT had split off its international activities last month, by referring sources familiar with the issue, which suggests that it could be open to offers.
However, the CEO is of the opinion that the current share price of BT (£ 186.45) does not reflect the actual value of OpenReach – broadband network arm. If this observed undervaluation continues, BT could consider turning open after the fiber roll, but Kirkby said that she would prefer the stock price to improve instead of having to take another spider.
Speaking of the last full tax year of BT, which ended on March 31, Kirkby said The company had realized “more than £ 900 million in annual cost savings.” She blamed “lower international sales and handsets” of the turnover dip from 2% to £ 20.4 billion.
The range of BT in the UK can become even stronger, with The guardian From revealing that the company could have had initial discussions to buy Talktalk, a smaller broadband provider who has struggled financially.
Such an acquisition, together with BT’s owned by mobile network provider EE, could, however, describe great dominance about British networks, which could possibly cause an antitrust study.
The Recently completed merger of three and Vodafone Was subject to an in -depth investigation before finally approved by the UK’s Competition and Markets Authority (CMA).
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