Virgin Media O2 set to axe hundreds of jobs despite revenues surging to more than £2b

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Virgin Media O2 is set to axe hundreds of staff despite revenues of more than £2 billion.

Virgin Media O2, which employs around 16,000 people, has put hundreds of workers on redundancy alert. The job cuts come despite its revenues surging to £2.6 billion.

According to unions, the broadband and mobile network operator sent out letters last week. Sources suggest 800 to 2,000 people could lose their jobs in the cuts.

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Virgin Media O2 has 47.9 million UK connections covering broadband, mobile, TV and home phone services. Virgin Media and O2 merged in a £32 billion deal in 2021.

A spokesman said: “As part of our transformation, we’re consulting with some of our people on proposed changes.”

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