VIRGIN MEDIA O2 PLANS THOUSANDS OF JOB CUTS

Virgin Media O2 has confirmed plans to cut thousands of jobs as it seeks to reduce costs. Its workforce numbers about 16,000, and one person familiar with the plans suggested that as many as 4,000 jobs could go. The company has yet to settle the number ahead of its third-quarter results next week. It is expected to set a financial savings target rather than a redundancy target. Investor concerns have focused on a debt pile put at £22 billion.

Most of the proposed cuts would affect roles that do not deal directly with customers, according to a person familiar with the plans. Changes among senior leaders are already under way. Officials at the Communication Workers Union and Prospect have been made aware of the restructuring. Virgin Media O2 also plans to review its use of contractors and suppliers. In July, the company was said to be considering cuts to its dividend and capital expenditure as options for addressing its debt.

Virgin Media O2 is understood to be nearing an agreement to use Openreach’s network in some areas. The proposed arrangement could extend its reach from 19 million homes to as many as 25 million. BT Group and Vodafone Three have also cut jobs as telecoms companies seek to reduce costs. Sky cut hundreds of jobs in September 2025. BT moved to take over TalkTalk Telecom Group after its collapse, while several alternative fibre network operators have collapsed over the past two years.