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BT Shedding 10,000 Jobs

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Times are tough, and technology companies aren’t immune from the global downturn. British telecoms giant BT has announced that it will add to the 4,000 layoffs it made earlier this year to bring the total to 10,000 job cuts by March next year.

However, the company insists that this slimming-down isn’t directly related to the economy.

"This is a reflection of the fact we have to become leaner," BT chief executive Ian Livingston told the BBC. "We need to do it in good times and bad."

The cuts will largely hit contract and agency staff, reducing the global workforce of 160,000.

Although three of its service units are making money, Livingston said profits in the global services division were disappointing. The company had already warned that the division would report lower profits.

BT’s shares rose 11% on the London Stock Exchange on news on the job cuts.