TalkTalk is set to cut hundreds of jobs as the struggling ISP looks to save £120 million ($150m), detailing the plans during an investor meeting in December. TalkTalk has already kicked off a redundancy consultation, ahead of plans to cut around 130 jobs at its Salford consumer division.
Further cuts are set to impact its wholesale business, dubbed Platform X, which will take the losses into the hundreds, noted the publication. As of the end of February, TalkTalk had 1,857 employees. The company's latest figures revealed £72 million ($90m) in losses in the six months leading up to August 2024, an increase from £47 million ($59m) in the same period last year. Revenue dropped six percent to £700 million ($877m).
TalkTalk, Britain's fourth-biggest broadband operator with 3.8 million customers, currently has a debt pile of £1 billion ($1.27bn) and has been looking to sell off some of its assets to clear the debt.
