11:16 AM EST, 11/03/2026 (MT Newswires) -- Virgin Media O2's new strategic plan and cost-reduction measures will involve trimming roles and streamlining management. The UK-based 50/50 joint venture between Telefónica (TEF.MC) and Liberty Global said Tuesday it aims to save up to 800 million pounds sterling per year by 2029, of which 300 million pounds will come from cutting its workforce over the next two years, with the majority of the layoffs impacting non-customer-facing positions. Other measures include cutting senior leadership roles, reducing the use of contractors, and greater investments in artificial intelligence technology and digital channels.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.