Loss making broadband provider TalkTalk Group has put another 100 jobs at risk as part of a massive restructuring aimed at returning the company to profit.
The Standard has learned that a consultation process has begun with staff across two hubs, one at its group HQ in Salford near Manchester and another in London, where it has offices at Finsbury Square in the City.
A major job reduction plan was first revealed to investors at the start of the financial year.
The latest potential job losses come hard on the heels of a major restructuring of TalkTalk group’s wholesale arm PXC with about 350 jobs put at risk.
In 2023 the TalkTalk Group split its main business into three separate firms; TalkTalk Consumer which had more than two million broadband customers, PXC, which offers services to other telecoms providers, and corporate service TalkTalk Business Direct, which was sold .
Sky News reported in September that TalkTalk Group has lined up investment bank PJT Partners to handle a strategic review that could lead to a break up of the group.
In August it emerged that pre-tax losses trebled in the year to to 28 February from £153 million to £465 million. Revenues declined from £1.51 billion to £1.41 billion.
The accounts filed at Companies House also confirmed that the number of people employed by the group in the financial year fell from 2,065 to 1,570.
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.”
TalkTalk was founded by Sir Charles Dunstone, who is still executive chairman, and is the UK’s fourth-largest telecoms group. It was taken private from the London Stock Exchange in 2021 in a £1.1 billion deal led by sister companies Toscafund and Penta Capital.
Britain's altnet sector, which comprises dozens of broadband infrastructure groups, has been struggling because of soaring costs and low customer take-up.
