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.