Posted: Sun May 10, 2009 3:03 pm Post subject: BT plans to cut 10,000 more jobs.....and pay no dividend!
Next Thursday will be one of the worst days in BT's history as it will announce impairment charges of about £1.7bn, set out plans to cut another 10,000 job cuts and reveal a pension fund deficit of about £6bn.
Shares in BT have slumped as low as 72p − below its flotation price in 1984 − in recent months as the former state-owned telecoms company revealed the extent of the disaster unfolding at its Global Services division, which provides telecoms and IT infrastructure for multinationals and Government departments.
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