AI summary
Virgin Media O2 is cutting thousands of jobs to save £800m, aiming to reduce its massive debt and lower wage costs by 30% through increased AI use.
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Virgin Media O2 to cut thousands of jobs as it plans £800m cost savings
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Up to 25% of 16,000 workforce could go as telecoms group says it will increase use of AI in areas including customer serviceBusiness live – latest updatesVirgin Media O2 is to cut thousands of jobs in an £800m cost-cutting drive as the telecommunications company aims to tackle its £22bn debt pile.VMO2, which is jointly owned by Liberty Global and Telefónica, said £300m of the savings target will come from job cuts that will reduce the company’s employee wage bill by 30% over the next two years. Continue reading...
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