Prospect responds to BT’s half year financial results

Prospect is concerned by BT’s announcement that additional cost savings are needed to stem cash flow issues as a result of high inflation and increased energy prices.

BT announced the plan today as part of its Q2 financial results. Read more here.

Deputy General Secretary Philippa Childs said:

“This will be a worrying time for our members at BT and we will do everything we can to support them. They are also feeling the impact of increased inflation due to soaring cost of living against a backdrop of real-terms pay cuts in recent years.

“Our priority is to engage with BT to identify how cost savings can be achieved without the need for headcount reductions.

“BT’s workforce, and our members, are its strongest asset. The future success of the company will not be built by short-sighted cuts or squeezing already hard-working staff.

“We will also be seeking to ensure that any cost savings are reasonable and managed well to avoid managers and professionals being put under even more pressure than they already are.”