Virgin Media O2 confirms it will axe thousands of jobs and turn to AI in a drive to save £800m
About £400million of Virgin Media O2's £800million savings target is due to be delivered by 2027, with contractor cuts and technology licence reviews forming part of the overhaul.
Up to 4,800 staff — as much as 30% of Virgin Media O2's 16,000-strong workforce — face redundancy, with the bulk of roles lost coming from non-customer-facing positions. The firm is battling a £22billion debt pile amid fierce competition from BT and smaller challengers.
CEO Lutz Schüler said 'standing still is not an option' as AI takes over customer service roles.
About £300million of the £800million target will come directly from UK job cuts, with £400million delivered by 2027.
Cutting contractor numbers and reviewing technology licences also form part of the overhaul.
