BT has revealed plans to significantly reduce the number of people working for the telecoms group as part of efforts to cut costs and bolster profitability.

While outlining annual results, the company said it saw its “total labour resource” being reduced from 130,000 to between 75,000 and 90,000 by the end of the decade.

It said the numbers affected – 55,000 at the top estimate – included its own employees and third-party contractors.

Chief Executive Philip Jansen said after completing its fibre roll-out, digitising the way it worked and simplifying its structure, it would rely on a much smaller workforce and significantly reduced cost base by the end of the 2020s.

“New BT Group will be a leaner business with a brighter future,” he said.

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