BT to ditch 10,000 jobs

BT is to shed 10,000 jobs in response to the fall in its Q2 profits. Some 4,000 staff directly employed by BT and a further 6,000 contractors and sub-contractors are to lose their jobs by the end of the financial year in March 2009.

The Financial Times said the announcement came as BT reported profits before tax fell 11% in the three months to the end of September as BT Global Services, the driver of growth, had thinner profit margins. Its boss François Barrault resigned to be replaced by BT's finance director, Hanif Lalani.