AdvertisementAdvertisementBusiness03 Nov 2026 03:47PM (Updated: 03 Nov 2026 03:57PM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInAdd CNA as a trusted source to help Google better understand and surface our content in search results.Read a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST LONDON, Nov 3 : British mobile and broadband company Virgin Media O2 is cutting jobs, halting its fibre roll-out and is in talks to use its bigger rival BT's network, as it seeks to increase its profitability and reduce debt.The company, jointly owned by Liberty Global and Telefonica, is being squeezed by the roll-out of BT's fibre network and scores of small "alt-nets".It said on Tuesday it would cut around 30 per cent of its total people costs, with the majority of the reduction coming from non-customer facing roles. The group employs 15,000 people.Chief Executive Lutz Schüler said the changes were tough but necessary.Show MoreShow Less"Given the market conditions we face, the regulatory backdrop in fibre and the technological changes sweeping across all areas of the economy, standing still and doing what we’ve always done is not an option," he said.The challenge facing the group was clear in its third-quarter results, with a loss of 23,300 fixed line customers taking its total to 5.5 million.Its total revenue for the quarter fell 5.7 per cent to £2.4 billion ($3.22 billion) and adjusted core earnings fell 2.6 per cent to £995 million.($1 = 0.7460 pounds)Source: ReutersNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST