UK broadband provider TalkTalk has announced it is to cut its staff by almost 13% to help improve profitabilit...
The firm plans to cut 580 jobs from is 4,500-strong UK workforce by the end of April, through compulsory redundancies, according to the Financial Times.
The staff cut is the first cost-cutting move by TalkTalk chief executive Dido Harding since taking up the post last March, the paper said.
Harding said the group's priority is to run more efficiently and effectively while continuing to enhance quality of service, and for that reason, the company has maintained the level of customer support and safeguarded customer service roles as much as we possible, according to the Wall Street Journal.
In November, Harding set a medium-term target for TalkTalk's profit margin to increase from 13.6% to 20% at the level of earnings before interest, tax, depreciation and amortisation.
Harding also plans to rationalise functions within the company that has grown by acquisition, which includes paring down its four separate finance, human resources and procurement teams into a single support services team from April.