Telecoms giant BT - which has office near Sheffield - to axe around 13, 000 jobs
Telecoms giant BT is to cut 13, 000 jobs over three years as it seeks to slim down its management and back-office roles.
The company said the job cuts and other measures would help it achieve a cost reduction of £1.5 billion.
READ MORE: Traffic diverted after collision in SheffieldThe firm, which has a base at Bradmarsh Business Park in Rotherham, has not yet revealed which offices across the country will be affected.
BT also announced 6, 000 new employees would be hired "to support network deployment and customer service."
The company intends to move its headquarters out of central London to a site yet to be announced.
READ MORE: Gunmen wanted over shooting on Sheffield estateIn a statement, BT said it was responding to changes in the telecoms market, including "increasing competitive intensity from established companies and new entrants.
"It is critical that BT transforms its operating model to build a lean and agile organisation that delivers sustained improvement in customer experience and productivity."
READ MORE: Crowd gathers on Sheffield street as brawl breaks out involving man with macheteThe announcements came as BT disclosed that its annual pre-tax profits rose 11 per cent to £2.6bn in the year to March.
The firm also announced a 13-year plan to plug its £11.3bn pension fund deficit, including regular payments into the scheme and a bond issue.