VMO2 plans up to 4,000 job cuts amid £22bn debt
Business
Virgin Media O2 (VMO2) is set to lay off up to 4,000 employees as it tries to tackle a massive £22 billion debt.
Most of the roles affected won't be customer-facing, and the official announcement is expected with the company's financial update on November 3.
CEO Lutz Schuler is leading this cost-cutting push, which also includes reviewing its use of contractors and suppliers.
BT Group and Vodafone 3 layoffs
VMO2 isn't alone: BT Group and Vodafone Three have also had layoffs/job losses.
The whole industry is feeling the pressure from rising cost pressures, especially as VMO2 looks to expand its network and faces more regulatory checks.
Unions have already been briefed about these changes, which could shake up the sector even more in the coming months.