Virgin Media O2 outlines plans to lay off thousands as revenue falls
Telco expects to deliver cost savings of £800M by 2029, with £300M coming from staff cuts
Virgin Media O2 (VMO2) is set to reduce its workforce by up to a third in an effort to cut costs and save £800 million by 2029. The telecommunications provider, formed in 2021 through the merger of Virgin Media and O2, currently employs 16,000 people. Roughly 30% of the company's total people costs are expected to be affected by the redundancies over the next two years.
The majority of job cuts will be made in non-customer facing roles. VMO2 has also decided to halt investment in further fiber network upgrades beyond existing commitments, instead opting for a low-cost upgrade to its hybrid fiber-coaxial (HFC) network to deliver 2 Gbps services to customers.
Written by urgent.news from The Register's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
