Broadband News
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BT publishes results and announces job cuts
14 Nov 2008 | 00.10 Europe/London
BT hit the headlines today with a planned 10,000 job losses, mainly from contract and agency staff. The announcement came along with the 2nd quarter results which showed a modest performance from the Global Services business countering gains in other divisions. The elephant in the room of the Group Pension scheme is also heading for some changes.
BT were however quick to point out to us that 4,000 of the 10,000 have already left the firm.
Both BT Retail and Openreach delivered growth in EBITDA and in BT Wholesale the rate of year on year EBITDA decline has slowed compared with recent quarters.
BT report 13.3 million wholesale broadband connections (DSL and LLU) at September 30, 2008, including 5.1 million local loop unbundled lines. There were 258,000 net additional broadband connections in the quarter. Their retail share of those net additions was 27 per cent. With a customer base of 4.6 million BT’s retail market share of the DSL and LLU installed base was 34 per cent at September 30, 2008.
Phase 1 of the fibre to the home pilot has been delivered at Ebbsfleet, the first residents having moved into their new fibre enabled homes during September 2008 and enjoying speeds of up to 100 Mbit/s.
The footprint for Wholesale Broadband Connect, BT’s 21CN broadband service offering speeds of up to 24 Mbit/s, passed 8 per cent of the addressable UK market, up from 5 per cent in the first quarter and remains on track to achieve 40 per cent by April 2009 and 60 per cent of the UK market by March 2010. Eight Communications Providers (CPs) are currently marketing the new service and BT expect take up to rise as the available footprint increases.
Following the announcement of the results, BT's share price surged 10% and subsided slightly later in the day to close up 8.89%.
BT were however quick to point out to us that 4,000 of the 10,000 have already left the firm.
Both BT Retail and Openreach delivered growth in EBITDA and in BT Wholesale the rate of year on year EBITDA decline has slowed compared with recent quarters.
BT report 13.3 million wholesale broadband connections (DSL and LLU) at September 30, 2008, including 5.1 million local loop unbundled lines. There were 258,000 net additional broadband connections in the quarter. Their retail share of those net additions was 27 per cent. With a customer base of 4.6 million BT’s retail market share of the DSL and LLU installed base was 34 per cent at September 30, 2008.
Phase 1 of the fibre to the home pilot has been delivered at Ebbsfleet, the first residents having moved into their new fibre enabled homes during September 2008 and enjoying speeds of up to 100 Mbit/s.
The footprint for Wholesale Broadband Connect, BT’s 21CN broadband service offering speeds of up to 24 Mbit/s, passed 8 per cent of the addressable UK market, up from 5 per cent in the first quarter and remains on track to achieve 40 per cent by April 2009 and 60 per cent of the UK market by March 2010. Eight Communications Providers (CPs) are currently marketing the new service and BT expect take up to rise as the available footprint increases.
Following the announcement of the results, BT's share price surged 10% and subsided slightly later in the day to close up 8.89%.