Virgin Media O2 outlines plans to lay off thousands as revenue falls
UK's second-largest telecom provider Virgin Media O2 (VMO2) announced major restructuring measures to save £800 million by 2029. The company intends to reduce labor costs by approximately 30% through redundancies over the next two years, affecting a portion of its 16,000-person workforce, with most cuts targeting non-customer-facing roles. Additionally, VMO2 is pausing further fiber network expansion beyond current commitments, instead deploying low-cost upgrades to its hybrid fiber-coaxial network to deliver 2 Gbps services by 2027.
Key points
- £800 million savings target by 2029
- 30% reduction in labor costs over two years
- Fiber expansion halted; legacy network upgrades prioritized
Summary and key points written by AI from the headline and a short excerpt, so they can be incomplete or wrong. The Register did the reporting; read the original for the full story.
Read the full story at The Register
