British telecoms to shed further 10,000 jobs

British telecoms giant BT is planning to shed a further 10,000 posts from its workforce, according to newspaper reports Sunday. The job cuts come on top of around 10,000 jobs already culled, mainly among contract and temporary workers.
According to the Sunday Times, citing unnamed sources within the firm, the group will announced the redundancies along with planned cost cuttings at its annual report next month. The paper says the firm is now at a low point since privatisation by Margaret Thatcher in 1984, with a pension defecit of around 8 billion pounds (11.7 billion dollars).
The company has a total workforce of around 160,000 in 170 countries, and will present its annual figures on May 14. BT is preparing to write off around 1.5 billion pounds of losses from its Global Services division.