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Virgin Media O2 to Cut Thousands of Jobs in Sweeping Shakeup, Sky News Reports

Up to a quarter of Virgin Media O2’s workforce could be affected by a shakeup aimed at a £22 billion debt pile, according to Sky News — with the company yet to respond.

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Highlights

  • Virgin Media O2 will cut thousands of jobs in a sweeping shakeup, Sky News reported on Saturday, citing people close to the company
  • Up to 4,000 of the company’s 16,000 employees could be affected, though the precise number has yet to be finalised
  • Most cuts are expected in non-customer-facing roles, with senior leadership changes already under way
  • Virgin Media O2 did not immediately respond to a request for comment
  • The owners have been weighing options to reduce the company’s £22 billion ($29.46 billion) debt pile, the FT reported in July

A quarter of the workforce in scope

British telecoms operator Virgin Media O2, which is jointly owned by Liberty Global and Spain’s Telefonica, will cut thousands of jobs in a sweeping shakeup, Sky News reported on Saturday, citing people close to the company Reuters.

Up to 4,000 of Virgin Media O2’s 16,000 employees could be affected, although the precise number of job cuts has yet to be finalised, the report said Reuters. Most of the job cuts are expected to affect non-customer-facing roles, while a number of senior leadership changes are already under way Reuters.

Virgin Media O2 did not immediately respond to a request for comment Reuters — so the figures in this article are Sky News’ reporting, attributed as such, and the company may yet frame the programme differently.

The debt behind the cuts

The company is also expected to review usage of contractors and suppliers in an effort to reduce costs Reuters. The Financial Times reported in July that VMO2’s owners were weighing options to reduce the company’s £22 billion ($29.46 billion) debt pile, and in September the FT reported the shareholders were seeking to reduce costs by about £600 million Reuters.

Headsets resting on empty call centre desks
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What it signals

A contractor and supplier review alongside headcount cuts points to a structural cost programme, not a one-off trim. For staff, the uncertainty is in the gap between “up to 4,000 affected” and the finalised number — a gap the company will eventually have to close with a formal announcement. Until then, this remains a reported plan, and our coverage will update when Virgin Media O2 comments on the record.