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The Guardian - UK

Business

Mark Sweney

BT warns of more job losses as rising bills force bigger cost-cutting drive

BT Inflation Philip Jansen

mauve coloured BT sign at head office — BT said it has been forced to raise its cost-savings target from £2.5bn to £3bn by 2025 in response to inflation hitting a 40-year high and a surge in energy costs. Photograph: BT/PA

BT has warned of more job cuts to come after it was forced to find more than £500m in additional savings due to soaring inflation and energy bills.

The company, which reported an 18% slump in pretax profits from just over £1bn to £831m year-on-year in the six months to the end of September, said its energy bill will be £200m higher this year.

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One subscription that gives you access to news from hundreds of sites

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