Virgin Media O2 set to axe thousands of jobs

Reports suggest Virgin Media O2 is planning to axe thousands of jobs.

The telecoms firm is thought to have debts of £22 billion - and it's thought to be looking to reduce costs.

Precise numbers haven't yet been finalised, but it's believed non-customer facing roles and senior leadership will be affected.

The firm has its corporate headquarters in Reading and a London headquarters too.

It's believed trade union officials at the CWU and Prospect have been briefed on some of the plans.

It's understood the majority of the affected staff will be those in non-customer facing roles, while a number of senior leadership changes are already under way at the company led by chief executive Lutz Schuler.

VMO2 is also expected to review its use of contractors and suppliers, to try and help reduce its costs.

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