Latest news with #AllisonKirkby
India.com
4 days ago
- Business
- India.com
Bad news for this telecom company, to layoff 55000 employees by…, not Ratan Tata's TCS or Narayana Murthy's Infosys, it is…
British telecommunications giant BT is now assuming additional reductions in employment after the development of artificial intelligence. They recently announced more that 55,000 job cuts by 2030 which is higher than their earlier plans. CEO of the British telecommunications company BT, Allison Kirkby revealed this in a Sunday interview with the Financial Times. He said that progress in AI technology might result in additional reductions at the company. BT in 2023 had planned to cut up to 55,000 jobs by 2030, to reduce its cost base by the end of this decade. However, he also informed the FT that this strategy 'did not reflect' the 'full potential' of artificial intelligence. As now BT has increasingly used AI to change operations in areas like customer service. 'Depending on what we learn from AI … there may be an opportunity for BT to be even smaller by the end of the decade,' Kirkby said. The company is planning to use generative AI to assist with sales and support operations in BT and its mobile network division, EE. By December, the firm reported that EE's virtual assistant, Aimee, was able to manage up to 60,000 customer conversations weekly. BT is not only one company which is planning automation in full swing. The Swedish payments firm Klarna is also taking initiatives to use AI in customer service operations. In 2024, Klarna had revealed that its OpenAI-powered AI assistant was performing the work of 700 full-time customer service agents.
Time of India
5 days ago
- Business
- Time of India
BT boss Kirkby expects AI to deepen job cuts: Report
BT Group Chief Executive Allison Kirkby said advances in artificial intelligence could deepen significant job cuts under way at the British telecoms company, the Financial Times reported on Sunday. Kirkby told the newspaper that BT's plans to cull more than 40,000 jobs and strip out 3 billion pounds ($4 billion) of costs by the end of the decade "did not reflect the full potential of AI". "Depending on what we learn from AI . . . there may be an opportunity for BT to be even smaller by the end of the decade," the FT quoted her as saying. Britain's biggest broadband and mobile provider had said in 2023 that it would cut as many as 55,000 jobs, including contractors, by 2030. Its CEO at the time, Philip Jansen, said the company would rely on a much smaller workforce and significantly reduced cost base by the end of the 2020s. Kirkby, who took over from Jansen a year ago, has also opened the door to a possible future spin-off of Openreach, the company's network infrastructure business, the FT said. She said she did not feel the value of Openreach was reflected in the company's share price and if that persisted, BT "would absolutely have to look at options". In an emailed response to Reuters, BT said that Openreach is not something the company is actively looking at right now. It did not provide further comment on Kirkby's FT interview. BT said last month that strong demand for fibre broadband and more than 900 million pounds of cost savings had helped to shore up its full-year earnings and boost cash flow. Resilience at Openreach offset declines in revenue and profit at its business and consumer units, where legacy voice services continued to wane and handset sales fell.
Phone Arena
5 days ago
- Business
- Phone Arena
AT&T, Verizon, T-Mobile should pay attention: a telco is about to cut more than 40,000 jobs because of AI
While artificial intelligence makes some folks filthy rich, it also makes some extremely worried they'll lose their jobs. And for some 40,000 – or more! – employees of a certain telecom company, the latter option might just become reality in the coming years. The Financial Times is casting a light on BT Group – the major telecommunications company based in the United Kingdom, which provides a wide range of services including broadband, mobile, fixed-line, and digital television. BT Group operates in both consumer and business markets and also offers network infrastructure services through its Openreach division, which manages much of the UK's broadband and telephone network. In recent years, the company has focused on modernizing its operations, investing in fiber and 5G networks, and implementing cost-cutting measures to remain competitive in a rapidly evolving industry. Image by PhoneArena At the end of 2023, the company was reported to have almost 99,000 employees. Soon, they could be 50,000 or so – major job cuts are expected. The FT report quotes BT Group Chief Executive Allison Kirkby who says that advances in AI could further deepen the job cuts under way at the British telecoms said the company's current goal to eliminate over 40,000 jobs and reduce costs by £3 billion (\$4 billion) by 2030 might not fully capture how much more artificial intelligence could help streamline noted that as BT continues to explore what artificial intelligence can offer, there may be a chance for the company to become even smaller by 2023, BT announced plans to cut up to 55,000 jobs, including contractors, as part of a broader effort to streamline operations. The company's former CEO, Philip Jansen, had emphasized the goal of operating with a leaner workforce and a much lower cost base by the end of the decade. Since taking over leadership, Kirkby has also indicated that BT could consider spinning off Openreach, its network infrastructure division, if the market continues to undervalue the business. Growth at Openreach helped balance out weaker performance in BT's business and consumer segments, where traditional voice services and handset sales continued to AT&T, Verizon and T-Mobile take notes? I'm far from the thought that the big three US telcos are not looking for ways to implement AI in their day-to-day operations – and they're alreadydoing it – what's more, I'm sure massive job cuts will happen at a point in time. The US telcos just need to come up with a reasonably sane chatbot assistant and it'll do the trick. Switch to Total 5G+ Unlimited 3-Month plan or Total 5G Unlimited and get a free iPhone. We may earn a commission if you make a purchase Buy at Total Wireless
Time of India
5 days ago
- Business
- Time of India
UK's largest telecom company may cut up to 55,000 jobs; CEO Allison Kirkby says: earlier plans to cut more than 40,000 jobs did not …
UK's largest broadband provider could slash workforce beyond current 55,000 job reduction target as artificial intelligence transforms operations. BT Group 's chief executive has warned that artificial intelligence could trigger even deeper job cuts at the UK's biggest telecoms company, with the broadband provider potentially slashing its workforce beyond the 55,000 positions already marked for elimination by 2030 as AI transforms operations across the industry. Allison Kirkby told the Financial Times that BT's existing plans to cut more than 40,000 jobs and strip out £3 billion in costs "did not reflect the full potential of AI." The CEO emphasized that rapid advances in artificial intelligence could enable the company to operate with significantly fewer employees. "Depending on what we learn from AI, there may be an opportunity for BT to be even smaller by the end of the decade," Kirkby stated in the weekend interview, signaling that the FTSE 100 company's workforce reduction could exceed current projections. Openreach spin-off under consideration The telecoms giant is also evaluating a potential separation of its valuable Openreach broadband network division, with analysts estimating its worth at £30 billion, substantially higher than BT's current £18.5 billion market value. Kirkby indicated that BT would "absolutely have to look at options" if Openreach's value continues to be underrepresented in the company's share price. However, she expressed preference for the market to properly recognize Openreach's worth rather than pursuing a spin-off. Since taking over as CEO in February 2024, Kirkby has accelerated BT's streamlining efforts, selling off international assets including Italian and Irish operations while refocusing on the UK market. The strategy has proven successful with investors, as BT shares have surged 65% during her tenure. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Times
5 days ago
- Business
- Times
BT job cuts may deepen as AI advances, says Allison Kirkby
Advances in artificial intelligence could deepen significant job cuts under way at BT, the telecoms company's chief executive has said. In the latest pronouncement by a leading chief executive on the impact of AI on the labour market, Allison Kirkby said BT's plans to cull more than 40,000 jobs and reduce costs by £3 billion by the end of the decade did not reflect the full potential of the technology. 'Depending on what we learn from AI … there may be an opportunity for BT to be even smaller by the end of the decade,' she said in an interview with the Financial Times. In May 2023, BT said that it would replace 10,000 jobs with artificial intelligence by the end of the decade, which would include call handling and network diagnostics.
