Virgin Media O2 has confirmed it will scrap thousands of jobs as part of cost-cutting measures aimed at tackling its billions of pounds of debt.
Workforce reduction plans
The telecoms giant, known as VMO2 and jointly owned by Global and Telefonica, is reportedly planning to cut a significant portion of its 16,000-strong workforce, with thousands potentially facing redundancy in the coming months.
According to Sky News, the decision follows investor concerns about the company's debt, which stands at around £22bn.
Background and context
This is a breaking news story and further details are expected to emerge as the situation develops.
