BT will create up to 7,000 jobs by accelerating the multibillion-pound deployment of a national next-generation broadband network to 25 million premises in the UK by 2026.
The telecommunications giant, which reported a 23% drop in pre-tax profits to £ 1.8bn last year as companies used its services less during pandemic lockdowns, had previously targeted broadband deployment fiber optic in 20 million premises. BT said it would consider a joint venture partnership to fund the rollout to the additional 5 million homes.
The company has pledged £ 12bn to address the UK’s status as a global lagger in full fiber optic broadband and deliver on Boris Johnson’s campaign pledge of next-generation broadband speeds in every UK home.
“BT is already building more fiber optic broadband for homes and businesses than anyone else in the UK,” said Philip Jansen, CEO of BT. “It will provide fiber to more people, including in rural communities. And it will help fuel the UK’s economic recovery, with better connectivity and up to 7,000 new jobs. “
The new jobs, which will be mostly engineering roles at its subsidiary Openreach which builds and manages the UK’s broadband network, come as BT continues to restructure its business, ultimately reducing its workforce by 13,000 people.
The company also announced that its triennial pension assessment put the company’s pension deficit at just under £ 8bn, in June last year, around £ 1.5bn lower than its last. Evaluation. BT has entered into a long term payment plan with its pension trustees.
“This deal keeps us on track to a zero funding gap by 2030,” said Simon Lowth, chief financial officer of BT.
BT also confirmed that it will restore its dividend, which had been suspended for two years at the start of the pandemic, to 7.7 pence for its 2021-22 fiscal year.