BT Group to Cut 15,000 More Jobs, Posts Loss

LONDON -- Telecommunications company BT Group (BT Quote) said Thursday it expects to cut another 15,000 jobs in the next year after its global services division dragged the company to a fourth-quarter loss of nearly 1 billion pounds.

In the three months ending March 31, BT recorded a net loss of 977 million pounds ($1.48 billion), compared with a profit of 426 million pounds a year earlier.

The global services unit, a provider of communication services for companies and government agencies, posted a pretax loss of 1.5 billion pounds, raising its total losses for the year to 2 billion pounds.

That swung BT Group to a full-year loss of 83 million pounds, compared with the previous-year profit of 1.7 billion pounds. ...