BT, the UK telco that operates the BT Sport pay-television sports broadcaster, is set to announce plans to cut 6,000 jobs worldwide next week.
The job losses, which amount to about six per cent of the company’s workforce, will save BT about £500m (€566m/$675m) from its £4.7bn annual wage bill, according to the Financial Times.
The plans are set to be confirmed by chief executive Gavin Patterson when BT unveils its annual financial results next Thursday.
An Italian accounting scandal and underwhelming financial results in recent months have led to BT’s share price more than halving over the past two years.
A year ago, BT announced that 4,000 jobs would be cut, with half coming from its UK operation. The new job cuts are expected to affect managerial and back-office staff.
In February, BT Sport agreed to pay £295m per season over three years, from 2018-19 to 2020-21, for rights to 32 live English Premier League football matches per season.