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The debt strained TalkTalk Group, which at this point has been through a demerger of its businesses and in 2024 secured a £400m refinancing package to avoid a default on its debts (here, here) – not to mention the recent £120m funding deal (here), is reportedly set to axe around 100 more jobs as part of its latest restructuring effort.
Suffice to say that the group, which recently launched a major brand refresh and advertising push of its consumer broadband ISP business (here), is still doing everything it can to cut costs and tackle their underlying debt problem. This includes the possible disposal (sale) of its remaining businesses (here).
The situation has already resulted in various redundancies, such as the recent loss of up to 350 jobs from their wholesale division, PlatformX Communications (here). According to The Standard, another redundancy consultation has just started that could see around 100 further jobs being cut from both their group HQ in Salford (Manchester) and another office in London.
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.”
The Group’s latest annual accounts (here) recently revealed that TalkTalk made a statutory loss before tax of £465m for the year ended 28th February 2025 (up from £153m last year) and were home to 1,570 employees (down from 2,065). The overall level of net debt (excluding leases) also hit £1.2bn – rising to £1.96bn if you include leases.