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Virgin Media O2 is to axe up to 4,000 jobs, a quarter of its workforce, while it battles £22bn debt

The redundancy figure, reportedly up to 4,000 positions, is expected to be confirmed alongside Virgin Media O2's third-quarter results due next week.
The redundancy figure, reportedly up to 4,000 positions, is expected to be confirmed alongside Virgin Media O2's third-quarter results due next week.

Virgin Media O2's redundancies will fall mostly on non-customer-facing roles, with several senior leadership changes already under way at the business, a joint venture between Liberty Global and Telefónica. Officials from the CWU and Prospect unions have been briefed on the plans, and a review of contractors and suppliers is being launched to identify further savings. The firm will frame its cost-reduction target in financial rather than headcount terms when it publishes third-quarter results on Tuesday, 3 November.

Up to 4,000 positions — a quarter of the 16,000-strong workforce — could be eliminated if savings reach £600m.

The cuts follow a plunge in VMO2's bond prices after competition regulators raised concerns about a joint venture that could have handed the firm £1bn in debt relief.

A CMA ruling on that deal is due on 15 December — its outcome could determine how many jobs are ultimately lost.

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