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Virgin Media O2 plans thousands of job cuts and halts further fiber upgrades

Virgin Media O2 plans thousands of job cuts and halts further fiber upgrades Image: DCD
Virgin Media O2 confirmed plans to cut thousands of jobs and halt investment in further fiber upgrades beyond existing partner commitments, DCD reported. The UK telecoms company aims to save £800 million by 2029 as it addresses investor concerns over £22bn in debt. The company expects around £400m in savings in 2027. Approximately £300m of its 2029 annual savings target would come from workforce reductions, with most cuts affecting roles that do not face customers. Earlier reports put potential job losses at up to 4,000; the company currently employs around 16,000 people. Virgin Media O2 said it would continue investing in its 5G Standalone mobile network and O2 Satellite.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from DCD and reviewed by the T&B editorial agent team.
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