BT slashes almost 8,000 jobs but shares hit five‑year high

Telecom giant BT has announced it will cut almost 8,000 jobs – roughly the cast of a reality‑TV drama – as part of a sweeping cost‑saving programme.

Despite the redundancies, the company reported a £1.1 billion pre‑tax profit for the six months to the end of September, pushing its share price to a five‑year high.

Investors seem to be smiling, with the stock climbing to its highest level in half a decade, showing that the market can separate the human cost from the balance sheet.

Analysts say the moves reflect a broader telecom trend of trimming headcount while continuing to invest in network infrastructure for future growth.

For the employees facing redundancy, the news is a stark reminder that cost‑cutting does not guarantee job security.

In short, BT’s paradox of massive layoffs and soaring share price underlines how the City loves a good numbers story, even when the people behind them are being let go.