Telecom Giant BT announces to cut 10,000 jobs...Have Recession Started to Bite Already??
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"Telecom Giant BT announces to cut 10,000 jobs...Have Recession ...Posted by: IdleMind
In its half-year results, the company said that it has already cut 4,000 employees, while a further 6,000 will go between now and March.Consultants, contractors and offshore staff among the company's total workforce of 160,000 are to be worst hit by the move, which is part of an ongoing efficiency programme, with direct staff numbers being reduced by four per cent in total.
The company's announcement came a day after national unemployment rose to 1.825 million - its highest level for 11 years. A further 140,000 people were out of work in the three months to September.Economists have forecast that the total will pass 2 million in the new year and could exceed 3 million as the economic downturn continues to worsen.
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