BT Cuts Almost 8,000 Jobs in Cost-Saving Programme

BT has cut almost 8,000 jobs as part of a sweeping cost-saving programme, the telecoms group disclosed alongside its half-year results. The reduction comes as the company reported a pre-tax profit of £1.1bn for the six months to the end of September, a performance that helped lift its share price to a five-year high.

The job cuts are part of a broader effort to streamline operations and reduce costs across the business. While BT did not specify the exact number of roles affected beyond the near-8,000 figure, the scale of the reduction underscores the depth of the restructuring underway at the former state monopoly.

The financial results provided a lift to investors, with the £1.1bn pre-tax profit for the half-year period reflecting the company's ability to maintain profitability even as it absorbs restructuring charges. The share price touching a five-year high suggests the market has responded positively to the combination of solid earnings and the cost-reduction measures.

BT has been under pressure to improve efficiency as it invests in network infrastructure and faces competition in the telecoms sector. The job cuts are likely to be closely watched by unions and employees, given the size of the workforce reduction.

The company's ability to deliver a £1.1bn pre-tax profit while executing a significant headcount reduction indicates that the cost-saving programme is already contributing to the bottom line. Investors will be looking for further details on how the savings will be sustained and whether the restructuring will lead to additional charges in future periods.

For now, the market's reaction — sending the share price to a five-year high — suggests confidence in the direction of the cost-saving strategy and the company's financial resilience.