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Latest NewsJob creation and lossesUK

TalkTalk to shed more than 100 jobs to save £120m

by Kavitha Sivasubramaniam 16 Dec 2024
by Kavitha Sivasubramaniam 16 Dec 2024 Shutterstock / Piotr Swat
Shutterstock / Piotr Swat

TalkTalk is cutting more than 100 jobs in an attempt to save more than £120 million as part of a “radical” restructuring plan.

The debt-ridden telecoms provider, which warned of potential collapse earlier this year, is making the redundancies primarily at its Salford, UK, based head office.

In a bid to curb its expenses, with around 60% of the savings expected in the next year, TalkTalk has already shed jobs in its consumer divisions and is expected to cut more from its wholesale business, Platform X.

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The company said it could not confirm the exact number of redundancies since it is still in the early stages of consultation, but it is expected it to be in the region of 130, across numerous departments and central functions.

A TalkTalk Consumer spokesperson said: “This is the first stage in a multi-year transformation of our business to deliver differentiated service and product to our customers.

“We are simplifying our business to ensure that we can continue to offer great value connectivity to our millions of customers across the UK. As part of this, we have made the difficult decision to launch a consultation about the future of some roles at TalkTalk’s consumer business.”

Under the cost-saving strategy, the company plans to look at office closures and reducing spending on travel, catering and marketing. It will also consider the potential sale of non-essential, smaller businesses.

TalkTalk, which had 1,857 staff members in mostly administrative positions at the end of February, had been grappling with mounting debts  after the company went into private ownership when it was taken off the stock exchange.

For the six months to the end of August, the company’s financial reports revealed that its losses soared to £72 million.

Meanwhile, in the same period its customer numbers have also showed a steady decline, decreasing from 3.6 million in February to 3.4 million.

Last year, TalkTalk Group divided its central operating business into three separate firms: TalkTalk Consumer, TalkTalk Business Direct and PXC Communications.

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Kavitha Sivasubramaniam

Kavitha Sivasubramaniam is an experienced journalist, editor and communications professional who has been working in B2B publishing for more than 17 years. After graduating from Bournemouth University with a degree in Multi Media Journalism, Kavitha started her career in local and regional newspapers, before moving to consumer magazines and later trade titles, as well as PR. Specialising in pay and reward, she has been editor of a number of HR publications including Pay & Benefits, Employee Benefits, Benefits Expert, Reward and CIPP’s membership magazine, Professional. In June 2024, she won Pay, Reward and Employee Benefits Journalist of the Year at the Willis Towers Watson media awards. She was also named one of Each Person’s top 20 influential HR bloggers and managed a highly commended content team of the year in 2019.

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