Virgin Media O2 Plans Thousands of UK Job Cuts, Sky News Reports

Virgin Media O2 is preparing to cut thousands of jobs in the UK as it seeks to reduce costs amid concerns over its £22 billion debt burden, Sky News reported on Saturday.

The plans could affect as many as 4,000 positions, one insider told the broadcaster. Sources close to the company said the final number had yet to be determined.

Most affected employees are expected to work in roles that do not involve direct contact with customers. The company is also expected to review spending on contractors and suppliers.

Virgin Media O2, jointly owned by Liberty Global and Telefónica, employs about 16,000 people. Officials from the CWU and Prospect unions have reportedly been briefed on parts of the plans.

A financial cost-reduction target is expected alongside the company’s third-quarter results on Tuesday. A Virgin Media O2 spokesman declined to comment on the redundancy plans.