Everything Everywhere to cut 1,200 jobs
Cuts - which amounts to 7.5 per cent of its 16,000-strong workforce - branded "regrettable" necessar
Britain's biggest mobile operator, Everything Everywhere, is to cut 1,200 jobs in a bid to improve efficiency while maintaining the two distinct brands that formed it: Orange and T-Mobile UK.
The company has launched a 90-day programme to determine which jobs will be cut by the end of the year. Divisions such as IT and legal are likely to be among those more affected, reports the Financial Times.
Tom Alexander, chief executive of Everything Everywhere, described the cuts - which amounts to 7.5 per cent of its 16,000-strong workforce - as "regrettable" but stressed the need to remove any "unnecessary duplication" in the joint operation of the two brands.
The job-shedding comes just two days after the company announced a cost-saving target of at least £3.5bn by 2014, the Guardian reports.
On Tuesday, Everything Everywhere reported a second quarter revenue drop of 4.8 per cent to £1.72bn, and an 18.5 per cent fall in underlying profits to £309m. Its average revenue per user fell 6.6 per cent to £35.50, more than the 4.4 per cent reported by rivals Vodafone and O2.
Everything Everywhere, which is jointly owned by France Télécom and Deutsche Telekom, attributed the decline in performance to competition and tougher regulation.