Thursday, November 13, 2008

BT - profits up, job losses

From Forbes magazine:
"Britain's largest phone company, on Thursday reported quarterly earnings rose 18 percent but said it would slash 6,000 more jobs by March to keep costs down and maintain its profits. Shares surged nearly 9 percent on the news."

Although the share price is up today, I suspect that the vast majority of investors who bought shares in the company probably lost money.

Remind me again, what was the original privatization share price?


  1. Another failed privatization.

  2. Is this robust and macho approach to management going to catch on ?

    I wish it would in the public sector.

  3. But we still get to cover their pension fund.

  4. BT are a rubbish supplier anyway, and it sounds like they are a rubbish employer - let's hope a lot of these guys can get better jobs with more deserving competition.