TalkTalk to cut more jobs in ‘necessary’ move
TalkTalk has announced it is looking to cut up to 100 jobs in its consumer business in a move it has described as “necessary”.
The company, which has bases in Salford and London, said the move forms part of its bid to ‘returning to its challenger roots’ to become more ‘focused, agile, and dynamic’.
A consultation process has been launched, with employees informed of the move today.
A spokesperson for TalkTalk Group said: “Over the past 18 months, we have been transforming how TalkTalk Group operates, invests, and serves its customers.
“The proposed changes to our consumer business are a necessary part of that journey, creating a more agile and future-focused organisation that can deliver innovation and improved service for our customers.”
More job cuts announced at TalkTalk
The news comes after it was reported in September that TalkTalk was planning to cut around 350 jobs at its subsidiary, Platform X.
In August, CityAM reported the full extent of TalkTalk’s financial woes mid sky-rocketing losses and huge job losses as customers move to other broadband providers.
Accounts for the Salford-headquartered group filed with Companies House revealed its pre-tax losses surged from £153m to £465m in the year to 28 February, 2025.
TalkTalk lost around 420,000 broadband customers in the year.
The group said the reduction was predominantly on the TalkTalk side of the business (277,000) due to its devision to “refocus our acquisition strategy and deliberately retrench from unprofitable segments and customers”.
The results also showed that TalkTalk’s revenue declined in the year from £1.51bn to £1.41bn.
The company added that its monthly churn increased year on year from 1.9 per cent to 2 per cent and that, along with fewer customers and the “on-going market-wide decline in voice”, led to its revenue falling.
The accounts also confirmed that the number of people employed by the group in the financial year fell from 2,065 to 1,570.
TalkTalk was founded by Sir Charles Dunstone and is the UK’s fourth-largest telecoms group.
In June, it was reported that BT was considering a potential takeover of TalkTalk.
A few weeks before, it emerged that TalkTalk had fallen behind on payments to suppliers including Openreach and CityFibre.
In July, TalkTalk announced it had secured an extra £100m from one of its current backers, believed to be Ares Management.
A month later, it announced its participation in the new facilities by other existing financial stakeholders would see the funding increased to a total of approximately £120m.
Last year, Sir Charles Dunstone and other shareholders injected an extra £235m into TalkTalk to shore up its finances.
The group was taken private by London-based investment firm Toscafund in a £1.1bn leveraged buyout in 2021.
The move added £527m of debt to TalkTalk’s balance sheet which now stands at £1.2bn.