Everything Everywhere cans 1,200 jobs after profit slump

Everything Everywhere, the recently formedmobile networkjoint venture between Orange and T-Mobile, is axing 1,200 jobs, approximately 7.5% of its 16,000 total staff, it has emerged. This comes just days after the firm reported an 18% slump in its most recent EBITDA down to £309m, and disappoin

Everything Everywhere, the recently formed mobile network joint venture between Orange and T-Mobile, is axing 1,200 jobs, approximately 7.5% of its 16,000 total staff, it has emerged.

This comes just days after the firm reported an 18% slump in its most recent EBITDA down to £309m, and disappointing sales of £1.5bn, down just over 5%.

The redundancies are expected to be mainly in back-office function and middle management, where Everything Everywhere has identified some areas of duplication.

In a statement, chief executive Tom Alexander said: "We need to ensure that we are operating with maximum efficiency, effectively serving our two brands while removing any unnecessary duplication from the business and, above all, making sure that we are set up to deliver for the future.

"It is therefore regrettable that some roles will need to be removed from our combined business," he added.

The tie-up between the two mobile network providers, which was first announced last autumn and has created by far and away the largest network in Britain, began trading formally in July.

MicroScope+

Content

Find more MicroScope+ content and other member only offers, here.

Read more on Network Infrastructure Solutions and Services

Start the conversation

Send me notifications when other members comment.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Please create a username to comment.

-ADS BY GOOGLE

ComputerWeekly

SearchITChannel

Close