Virgin Media O2 to cut up to 25% of workforce in £800m cost-saving drive

Virgin Media O2 announced an £800m cost-saving program, with £300m from job cuts reducing the wage bill by 30% over two years, affecting up to 25% of its 16,000 staff. The move aims to tackle its £22bn debt and will increase AI use in customer service. This signals telecom sector cost pressures and potential labor market impact in the UK.

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