Feeds

More jobs to go at BT

1,500 at BT Ignite offered voluntary redundancy

  • alert
  • submit to reddit

Reducing security risks from open source software

BT has upped the number of job cuts to 6,000 from a previous 5,000. The new cuts will come from its Internet services arm BT Ignite where 1,500 people will be offered voluntary redundancy.

A spokesman told us: "Our intent is to reduce the number of people in BT Ignite through natural wastage, re-skilling and targeted voluntary redundancy."

Yesterday BT announced its Q1 results, which saw profit drop 71 percent to £186 million but with increased revenues of £5.45 billion - up 15 per cent year-on-year. BT Ignite reduced its loss from £101 million to £78 million.

Share price dropped by four cent but quickly recovered when it became clear that the poor results were to be expected. A large increase in debt interest payments was responsible was a good proportion of the profit drop. Losses at two European mobile companies was responsible for most of the rest of it.

BT's £30 billion debt has caused the downfall of its FD, chairman and the ruin of its CEO. New chairman Sir Christopher Bland has spend his first few months at the company tackling the debt problem.

He has now reduced it to £17.5 billion by selling Asian companies and stakes in European mobile companies. ®

Related Story

BT profits slump 71 per cent

Eight steps to building an HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.