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via uk.finance.yahoo.comBusiness & Companies

Virgin Media O2 reportedly to axe 4,000 jobs

FROM THE WIRE · UK.FINANCE.YAHOO.COM

Virgin Media O2 (VMO2) is gearing up to cut thousands of jobs as it looks to tackle its burgeoning £22bn debt pile. The telecoms giant is reportedly drawing up plans to cut 25pc of its 16,000-strong workforce. Final details are expected in the company's third quarter results due…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishReported cost cuts at a heavily indebted telecoms group can affect the outlook of its parent companies Telefónica and Liberty Global.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Virgin Media O2 is reportedly drawing up plans to cut 25% of its 16,000-strong workforce.
  2. 02Final details are expected in the third-quarter results due on Tuesday.
  3. 03The group carries a debt pile of £22bn, and most affected jobs are understood to be non-customer facing.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Telefónica, S.A.TEF.MCStock3.37 EURMarket closedtoday +1.44%Neutral Telefónica S.ATEFN.MXStock75.67 MXNMarket closedtoday 0.00%Neutral Telefónica, S.A.TEFOFStock3.75 USDMarket closedtoday 0.00%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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