Everything Everywhere chief executive, Tom Alexander, in making sure the company is running in maximum efficiency mode, is cutting 1,200 positions. This decision is in the wake of a report released earlier in the week, of a drop of almost 19 per cent in profits. The company remarked that the cuts would also help it achieve the cost savings goal of 3.5 billion pounds.
The company has reported the frontline staff in high street shops and call centers will not be affected. The main positions being cut are back office administrative and some middle management. Since the company was created in July, by the merger of Orange and T-Mobile, it has cut 30 positions in senior management.
France Telecom and Deutsche Telekom jointly own the company and said the cuts would help it “reinforce its leadership in the UK”.
Alexander, chief executive, commented on what is in the future for the company, saying: “With the size and scale of our combined business, we have an incredible opportunity to deliver an unrivaled experience and unparallel value to our customers.
“To do that we need to ensure that we are operating with maximum efficiency, effectively serving our two brands while removing any unnecessary duplication from the business and, above all, making sure that we are set up to deliver for the future.
“It is therefore regrettable that some roles will need to be removed from our combined business.”
On Tuesday, Everything Everywhere reported additional dismal financial numbers including, a 18.5 per cent drop in earnings and, revenue down more than 5 per cent in the three months to the end of June.