BT profits surge 43% – 35,000 people have lost their jobs

BT profits surge 43% to £781m (half year). BT’s recovery under its chief executive Ian Livingston gathered speed today with half-year profits surging 43% to £781m after another round of cost-cutting. The shares hit an annual high of 168.5p, up 5.7%. Across BT as a whole more than 35,000 people have lost their jobs over two years at the former nationalised firm, which has faced ferocious competition from BSkyB and Virgin Media. Read More on BT’s site

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