BT is planning to cut up to 55,000 jobs by 2030 as part of a cost-saving strategy.

Around a fifth of roles axed by the telecoms giant will be in customer services, with the jobs likely be replaced by technology such as AI, according to the BBC.

The company's chief executive said that the growing generative AI market gives BT the confidence that it can "go even further", said the report.

The company currently has a workforce of around 130,000 people, with the majority located in the UK.

“By continuing to build and connect like fury, digitise the way we work and simplify our structure, by the end of the 2020s BT Group will rely on a much smaller workforce and a significantly reduced cost base,” said BT chief executive Philip Jansen in the company’s latest financial results. “New BT Group will be a leaner business with a brighter future.”

BT said that it had recorded revenue and pre-tax earnings in line with its outlook for the year "despite significant headwinds".

The multinational firm also said that its cost transformation plan was "on track", with cost savings of £2.1 billion since April 2020 against a £3 billion target.

The company's net debt was up £850 million to £18.9 billion, largely driven by a pension scheme contribution of £1 billion.

The news comes after Vodafone saw its share prices drop by nearly four per cent after the company announced plans to slash around 11,000 jobs over the next three years.

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