BT's job cuts and disastrous loss in 4Q - Page 2 - SatChat ™ Satellite & Entertainment Forum

NuRsInGaIde · 05-22-2009, 08:26 PM

Quote:

Originally Posted by rosaasor

Hmmn... that's really bad. BT also fired 15,000 employees last year. 15,000 now would mean more than 10% of its workforce, that's drastic!

Why not cut its Global Service unit entirely?

NuRsInGaIde · 05-22-2009, 08:26 PM

Quote:

Originally Posted by rosaasor

At least Royal Mail had millions of profit, even if their deficits were in the billions. BT is still losing money!

British Business Secretary Peter Mandleson said that profits are in the millions, the pensions deficit is in the billions, which would still put Royal Mail in a precarious financial condition.

amber · 05-23-2009, 09:15 PM

Quote:

Originally Posted by KrisyaKeno

BT Group PLC has announced another round of job cuts, this time totalling 15,000 heads after they lost nearly GBP1 billion!

This news caused BT shares to fall 1.5% last Thursday. The company also cut its dividends by more than half. Stockholders currently expect to receive only 6.5p per share!

amber · 05-23-2009, 09:19 PM

Quote:

Originally Posted by NuRsInGaIde

Why not cut its Global Service unit entirely?

Well BT has fired senior managers from that department. Hopefully, the new heads would be giving BT a better perfroming unit this year. But it's too early to tell!

amber · 05-23-2009, 09:19 PM

Quote:

Originally Posted by NuRsInGaIde

British Business Secretary Peter Mandleson said that profits are in the millions, the pensions deficit is in the billions, which would still put Royal Mail in a precarious financial condition.

How much pension fund deficit does BT have?

vanreek · 05-24-2009, 10:43 PM

Quote:

Originally Posted by amber

This news caused BT shares to fall 1.5% last Thursday. The company also cut its dividends by more than half. Stockholders currently expect to receive only 6.5p per share!

I am optimistic that BT will have a better 2009.

vanreek · 05-24-2009, 10:44 PM

Quote:

Originally Posted by amber

How much pension fund deficit does BT have?

Around GBP4 billion! So you see, even with the company's profits last year, it's not enough to cover the deficit, a situation which is very much like that of Royal Mail!

Topher · 05-25-2009, 04:00 AM

Quote:

Originally Posted by vanreek

I am optimistic that BT will have a better 2009.

Well yeah, if you are at the bottom, there's no way but up!

Topher · 05-25-2009, 04:00 AM

Quote:

Originally Posted by vanreek

Around GBP4 billion! So you see, even with the company's profits last year, it's not enough to cover the deficit, a situation which is very much like that of Royal Mail!

the problem of BT is compounded by its falling share price. Investors are now wary so even if BT is now privatized, it's still not going to capitalize on new investments.

Olongoer · 05-25-2009, 04:22 AM

Well, BT could sink. But I don't think so. As have been indicated here, there are a lot of good things going for BT now and their senior managers for that troubled unit has been replaced.

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05-25-2009, 04:22 AM	#20 (permalink)
Olongoer Senior Member Join Date: Dec 2008 Posts: 303	Well, BT could sink. But I don't think so. As have been indicated here, there are a lot of good things going for BT now and their senior managers for that troubled unit has been replaced.