Virgin Media O2 set to axe hundreds of jobs despite revenues surging to more than £2b

Virgin Media O2 is set to axe hundreds of staff despite revenues of more than £2 billion.

Virgin Media O2, which employs around 16,000 people, has put hundreds of workers on redundancy alert. The job cuts come despite its revenues surging to £2.6 billion.

According to unions, the broadband and mobile network operator sent out letters last week. Sources suggest 800 to 2,000 people could lose their jobs in the cuts.

Virgin Media O2 has 47.9 million UK connections covering broadband, mobile, TV and home phone services. Virgin Media and O2 merged in a £32 billion deal in 2021.

A spokesman said: “As part of our transformation, we’re consulting with some of our people on proposed changes.”