VMO2 announces a cost adjustment of 936 million until 2029 with thousands of layoffs
The British operator owned by Telefónica is considering cutting labor costs by 30%, halting fiber investments, and simplifying its structure.
Virgin Media O2 has announced a major transformation plan to cut costs and regain growth in the competitive UK telecommunications market. The company, owned by Telefónica and Liberty Global, aims to achieve annual savings of £800 million by 2029. Approximately £400 million in savings will be achieved by 2027 and £600 million by 2028. The plan involves reducing staff, cutting fibre investments, and changes to its leadership structure, among other measures.
Written by urgent.news from El Pais Economia's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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- VMO2 prepares thousands of layoffs to save costs expansion.com
