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Is BT the "new coal industry"
BT posted second-quarter results on Thursday amid speculation that the business is set to announce a new wave of job cuts as it seeks to streamline in response to increasing competition.
BT has already embarked on a £450m restructuring of the businesses - announced in May - but Credit Suisse believes the company has 30,000 more staff than it needs, and has labelled the telecoms sector as the "new coal industry".
Analyst Richard Barker said staff cuts of that magnitude could eventually save BT around £1.5 billion a year.
He added: "Sadly, downsizing of telecoms employment in the UK looks set to continue for some time."
Underlying earnings for the second quarter to 30 September are set to be marginally ahead of last year at £1.46bn, according to consensus forecasts.
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