Virgin Media O2 is drawing up plans to cut thousands of jobs, according to a report published on 1 November. Sky News, cited by HotMinute, reported that the company plans to make a significant proportion of its 16,000-strong workforce redundant in the coming months.

The precise number of roles affected had still to be finalised at the time of the report. A cost-reduction target is expected to be confirmed alongside the company's third-quarter results on Tuesday 3 November, when the financial picture behind the plan should become clearer.

Which roles are expected to be affected

According to one insider cited in the report, most of the affected staff will be in non-customer-facing roles. A number of senior leadership changes are already under way at the company, which is led by chief executive Lutz Schüler.

HotMinute puts the company's debt at around £22 billion. The Financial Times reported in September that Virgin Media O2 was considering options to reduce what it owes, including cutting its dividend and capital expenditure.

Wider pressure across UK telecoms

The reported cuts come during a difficult period for UK telecoms operators, which are trying to become more efficient as cost pressures rise. BT Group and Vodafone Three have also announced significant layoffs this year, according to the report.

The report also notes that banking group NatWest said it had cut a further 1,000 jobs in the same week as part of an efficiency drive linked to artificial intelligence. For Virgin Media O2 staff, the key unanswered questions remain how many roles will go, which teams will be affected, and what redeployment or retraining support will be offered. Those details are expected to follow the company's formal announcement: HotMinute — Virgin Media O2 to cut thousands of jobs: report.