Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens for the delivery of clues from Rain and Snow and Mr. Aviation! CTOnews.com May 18, according to Reuters, Britain's largest broadband and mobile provider British Telecom Group (BT. L) 55000 jobs will be laid off by 2030, including contractors. That could be more than 40% of its workforce, as the company will promote fiber optics and adapt to new technologies such as artificial intelligence.

Under the leadership of its boss, Philip Jansen, the company has been developing a transformation plan to build a national fiber-optic network and launch high-speed 5G mobile services.

The former UK state-owned monopoly announced today that it had achieved growth in formal revenue and core profits for the first time in six years in the year to the end of March, but the cost of business transformation and the impact on free cash flow caused huge losses, causing its shares to fall more than 8 per cent in early trading.

Philip Jensen said: "the new BT Group will be a leaner company with a brighter future."

The group also said that by 2030, most of its all-fiber network would be completed, reducing its workforce from 130000 to 75000-90,000 (CTOnews.com note: about 30, 000 are contractors).

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