UK Telecom Company BT Group Plans 55K Job Cuts By 2030
Portfolio Pulse from Lekha Gupta
BT Group reported a 1% Y/Y decline in FY23 adjusted revenue to £20.7 billion and plans to cut 55k jobs by 2030 as part of its global transformation plan. The company expects growth in revenue and EBITDA for FY24.
May 18, 2023 | 5:29 pm
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BT Group's FY23 adjusted revenue declined 1% Y/Y to £20.7 billion, and the company plans to cut 55k jobs by 2030. FY24 outlook expects growth in revenue and EBITDA.
The decline in FY23 adjusted revenue and the announcement of 55k job cuts by 2030 may negatively impact BT Group's stock price in the short term. However, the positive FY24 outlook with expected growth in revenue and EBITDA may help mitigate the negative impact.
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