Virgin Media 02 says it is laying off up to 2,000 employees
British mobile operator Virgin Media O2 said on Monday it was planning to lay off up to 2,000 employees by the end of this year.The company is a joint venture between the US-listed Liberty Global and Spain’s Telefonica. Its rival BT Group, Britain’s biggest broadband and mobile provider, had cut 55,000 roles or more than 40% of its workforce in May.
Liberty Global also holds 5% in Vodafone, which also plans to slash 11,000 jobs globally over three years as it forecast a 1.5 billion euro drop in annual year’s free cash flow. Earlier this month, the country’s communications regulator Ofcom opened a probe, following complaints from users that the mobile operator was making it tough to cancel services.
This content appears as provided to The Globe by the originating wire service. It has not been edited by Globe staff.
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