BT is to cut up to 40 per cent of its workforce by the end of the decade, as it seeks to slash costs and become a “leaner business”.

The group said on Thursday that it would cut between 40,000 and 55,000 jobs, including employees and third-party contractors, by 2030. The group’s current workforce totals 130,000 when including third-party contractors.

“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 chief executive Philip Jansen.

BT said it had made £2.1bn in cost savings since April 2020 towards its target of £3bn. Earlier this week, Vodafone said it planned to cut 11,000 jobs.