"We recognise that it is going to affect a lot of people, but ultimately we need to do these things to ensure that we remain a competitive business going forward and that we can benchmark our performance against peer companies", he told reporters.
Analysts at Bernstein called the earnings report "disappointing".
BT chief executive Gavin Patterson is under pressure from investors to improve the company's stock performance, which has nearly halved over the last two years.
Philippa Childs, national secretary at trade union Prospect, which represents many of BT's United Kingdom workers, said the scale of the cuts was greater than had been speculated before the announcement.
On the flip side, Britain's biggest telecoms operator said it would hire about 6,000 front line engineers, customer service and cybersecurity experts.
BT said the move out of St Paul's formed part of a plan to cut the number of locations it owns across the UK. BT's expansion into television was an attempt to defend its customer base.
Army officers fire off Rustom notice The notice has also been sent to auction house SaltScout, which has put out the naval officer uniform for online bidding. The Bollywood couple has claimed that the money raised from the auction would be used for social causes.
Royal Bank of Scotland to pay $4.9bn USA subprime fine Citigroup reiterated a "neutral" rating on shares of Royal Bank of Scotland Group in a research report on Monday, February 12th. Chancellor Philip Hammond said previous year that he was reluctant to sell shares while the DoJ probe had still to be resolved.
The company is hoping to cut costs by around £1.5 billion by the third year of its revamped strategic plan. The restructuring will cost 800 million pounds to implement. Capital spending on ultrafast broadband and mobile infrastructure is due to rise to £3.7bn for the next two years, compared with £3.5bn last year.
The new strategy is the latest throw of the dice from Patterson who won early plaudits from investors when he moved BT into sports TV and mobile.
The company has been dealing with the aftermath of an accounting scandal at its Italian division, which resulted in a £530 million write-down and a major fall in its share price past year.
BT also agreed a new 13-year funding plan for its pension, which had a deficit of 11.3 billion pounds at the end of June. It will pay £2.1 billion into the scheme by 2020 and a further £2 billion will be funded by the issuance of bonds.
BT said its outlook for the current financial year, to end-March, would see a 2% drop in underlying revenue, while adjusted core earnings would be in the range £7.3 billion-£7.4 billion, down from £7.5 billion in the last year.
After a star-studded wedding of Sonam Kapoor and Anand Ahuja , we've now got news of Neha Dhupia tying the knot with Angad Bedi. Angad, son of retired cricketer Bishan Singh Bedi , has done films like 'F.A.L.T.U", " Ungli ", " Dear Zindagi' and 'Pink' .
But the campaigners won last week their Supreme Court bid for their appeal to be heard, delaying the process even further. Apple has ditched proposals to build an €850 million ($1 billion/£742 million) Irish data centre after planning delays.
In August, the team also revealed they'd detected 15 mysterious signals coming from a galaxy 3 billion light-years away. A new hardware used by the Parkes Radio Telescope used by the Breakthrough Listen Initiative expands survey of the sky.
But the backer of the gym is pressuring D'Amato to find a real competitor and to secure his professional legacy. Among his students were such legendary boxers as Mike Tyson , Floyd Patterson and Jose Torres.
Since Trump's announcement, Guatemala and Paraguay have said they too will move their embassies to the capital. The worldwide community considers the annexation illegal and considers east Jerusalem as occupied territory.
Rajkumar Hirani has been continually dropping updates from his film and this has helped to create desirable hype around the film. Sanjay Dutt did not have it all easy in life and the latest poster from his biopic titled Sanju is proof.
ENERGY: Benchmark U.S. crude oil added 62 cents to $71.76 a barrel in electronic trading on the New York Mercantile Exchange. The governments of France, Germany and the United Kingdom all said on Tuesday they wanted to stick to the deal.
The three Americans released Wednesday were scheduled to depart Andrews for Walter Reed medical center for further evaluation. Their release came during a visit to Pyongyang by Mr Pompeo to arrange details of the meeting between Mr Trump and Mr Kim.
The five artists forming Equinox include Zhana Bergendorf, Vladimir Mihailov, Georgi Simeonov-JJ, Johnny Manuel and Trey Campbell. The results of the first semi-final already decided the first 10 finalists.
Lalu Prasad Yadav granted 3-day parole to attend son's wedding
Convicted in four animal husbandry scam cases, he is now lodged in Birsa Munda Central jail in Ranchi since December 23, 2017. Lalu also underwent treatment at All India Institute of Medical Sciences, from where he was referred back to Rims on May 1.
Aishwarya Rai Is Joining Instagram People! Find Out When
While Amitabh Bachchan and Abhishek Bachchan are quite a pro when it comes to social media, Aishwarya has stayed away from it. However, that's going to change as Aishwarya is all set to make her debut on Instagram tomorrow.
4 new Ebola cases recorded in north-west DRC
Players like Mikel John Obi reportedly wore face masks and hand gloves in camp as preventive measures against the deadly virus. The team found 5 cases, 2 of whom were hospitalized at Bikoro General Hospital and 3 at the Ikoko Impenge Health Center.
Turkey: US decision on Iran deal 'unfortunate step'
It said Pakistan believes that International Treaties and Agreements concluded through painstaking negotiations are sacrosanct. FO says arbitrarily rescinding such agreements will undermine confidence in the value of dialogue and diplomacy.
Sachin Bansal quits Flipkart after Walmart deal
A lot of Flipkart values, he said, come from the strong belief that Sachin brought and helped bring strong foundation. We are confident this group will provide Flipkart with enhanced strategic and competitive advantage.
Phantoms win in 5 OT's, take 3-1 series lead
Danick Martel scored in the 1st period for the Phantoms, and Patrick Brown scored in the 2nd period for the Checkers. Adds that Krushelnyski is son of former National Hockey League player Mike Krushelnyski.
Google technology makes tedious calls for you
Google will conduct tests of the Duplex Assistant in the summer, but they have big plans for it to automate annoying tasks. This voice could be used to interact with the Assistant in smartphones, Google Home, Android Auto and Android TV.
Syria retaliates Israeli missile strikes
The Syrian Observatory monitoring group, which tracks the conflict, said that attack killed 15 people, including eight Iranians. Russia's support for the Assad regime in Syria and its relationship with Tehran present worrying possibilities for Israel.
Will Cristiano Ronaldo play UCL FINAL 2018?
The chance to play for such a massive club in a league he's familiar with would also surely appeal to the Selecao sensation. So, the latest from Real Madrid club is that Ronaldo will be fit for the final of UEFA 2018.
Neymar's Secret Meeting With Real Madrid Revealed?
But president Florentino Perez is unhappy with the club's relinquishing of the league title to arch-rivals Barcelona. He is ready to invest £227 million for Neymar - bettering his previous record by a good £27 million.
PWD scam: Kejriwal's nephew arrested
Three companies, including Renu Constructions (owned by Bansal, Kamal Singh and Pawan Kumar ), were included in the FIRs. Our investigation revealed there are no such firms.