“BT announces massive job cuts to combat inflation in technology sector”

British telecommunications company BT announced its intention to cut 55,000 jobs by the end of the current decade, joining many companies in the technology sector that have taken similar steps to combat inflation. The announcement of these cancellations, which represent 42% of the company’s workforce, comes two days after the UK mobile communications giant, Vodafone, announced the abolition of 11,000 jobs over the next three years, which constitutes 10% of its workforce. “The two companies are suffering from inflationary pressures, especially in the energy sector,” said Victoria Scholar, an analyst at Interactive Investor.

BT employs 130,000 people, including contractors. And revealed during the announcement of its financial results, its intention to reduce this number to between 75 and 90 thousand in the period between five and seven years.

This announcement comes in the context of a regression this year that affected the technology sector, through the abolition of tens of thousands of jobs, and giant companies were not spared from it.