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BT to axe 4,000 jobs worldwide as pre-tax profits fall

BT has seen pre-tax profits fall 19% to £440 million. Credit: PA

Telecoms giant BT is to axe 4,000 jobs worldwide as part of a global restructuring.

BT made the announcement, which will affect "back office and managerial roles", as it revealed fourth quarter results, which saw pre-tax profit fall 19% to £440 million.

It follows an accounting scandal at the telecoms giant's Italian division, which has resulted in BT boss Gavin Patterson being stripped of his annual bonus.

The firm said Mr Patterson will receive a total pay packet of £1.3m for 2016/17, down from £5.3m the previous year.

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300 steel jobs created and five plants secured in deal

Credit: PA

Metals group Liberty House is to create 300 jobs and make multi-million pound investments to secure the future of five steel plants in the UK.

It comes as the company formally completed the £100m deal to acquire the Speciality Steels division of Tata Steel UK; protecting the jobs of 1,700 existing staff at several sites across Britain.

The company announced expansion plans expected to generate an additional 300 production jobs in the business.

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