BT have been actively reducing expenditure this year by culling staff and it appears to be working for the company – they have already cut £900m from their annual budget and they are aiming for £1 billion by the end of the year.
Their revenue is down in the last three months to £5,12 million which is a three percent reduction on last year or six percent if you take into consideration currency movements. The all important operating profit is £550 million which is a significant drop from £648 million last year. BT were forced however to spend £21 million on redundancy deals for their employees.
BT Global Services made a loss of £96 million on sales of £2,024 million which is a three percent reduction on the same period in 2008 – this was still the case even though costs at the division had dropped by 8 percent. BT Retail had an operating profit of £356 million from a total of £2,062 million in sales.
If you want more information then check out this page