job cuts

BT Group became the latest European operator to reveal large-scale job cuts as it continues efforts to slim down the business, with the UK-based company planning to reduce its workforce by up to 55,000 by end-March 2030.

Streaming giant Netflix laid off 300 employees, mostly in the US, in a second round of job cuts following a slowdown in subscriber growth.

Spanish trade union UGT reportedly revealed Telefonica redundancy terms would result in around 2,000 of 3,000 eligible staff being laid off, as the operator seeks to cut costs in its domestic market.

T-Mobile US reiterated plans to add 5,000 new jobs by May 2021 as it began laying off redundant employees two-and-a-half months after closing its merger with Sprint.

The Communications Workers of America (CWA) union urged AT&T to change course after the operator informed it of plans to slash thousands of jobs and close more than 250 self-branded and Cricket Wireless stores in the coming weeks.

SoftBank Group reportedly prepared to cut 15 per cent of the workforce at its Vision Fund, after losses at the venture capital set-up contributed to the company recording its worst-ever annual loss in its fiscal 2019.

Telecom Italia reportedly agreed further job reductions which would bring the total number of staff departing the operator in 2020 to 3,400, as the company scrambles to adapt to the financial impact of Covid-19 (coronavirus).