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VMO2 to slash 4,000 jobs as pressures mount


By Goran Nastic

Virgin Media O2 is expected to announce that it is cutting up to 4,000 jobs, around a quarter of its 16,000-strong workforce, under a major restructuring aimed at reducing costs and tackling its £22bn debt pile.

The UK telecoms operator, jointly owned by Liberty Global and Telefónica, is expected to unveil a transformation programme alongside its third-quarter results on 3 November, following pressure from investors over its ability to service its borrowings


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AstraZeneca launches $1.5bn cost-saving programme

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