UK's Virgin Media O2 to slash jobs, halt fibre roll-out
03/11/2026 07:36
UK's Virgin Media O2 to slash jobs, halt fibre roll-out LONDON, Nov 3 (Reuters) - British mobile and broadband company Virgin Media O2 is cutting jobs, halting its fibre roll-out and is in talks to use its bigger rival BT's network, as the indebted group seeks to increase its cash generation.
The company, jointly owned by Liberty Global LBTYA.O and Telefonica TEF.MC, is being squeezed by the roll-out of BT's fibre network and scores of small "alt-nets".
It said on Tuesday it would cut around 30% of its total people costs, with the majority of the reduction coming from non-customer facing roles.
(Reporting by Paul Sandle; Editing by Kate Holton)
((paul.sandle@thomsonreuters.com; +44 20 7542 6843; Reuters Messaging: paul.sandle.thomsonreuters.com@reuters.net))
Recent news on Liberty Global
See all newsMotor racing-Fortescue boss Forrest says Formula One should be in a museum
UK telco blowup has slim path to avert Altice fate
Press Digest: British Business - November 5
Liberty Global Ltd reports results for the quarter ended September 30 - Earnings Summary
Virgin Media O2 to cut thousands of jobs and halt UK fibre expansion (updated)