TalkTalk is implementing a drastic restructuring plan that includes cutting hundreds of jobs to save over £120 million, primarily targeting central head office roles.
The company's workforce, numbering 1,857 as of February, has excessive administrative roles, prompting the need for a radical overhaul to cut costs and streamline operations.
After narrowly avoiding collapse this summer, TalkTalk's significant debt of £1.2 billion, along with reported losses of £72 million, underscores the urgency of their cost-reduction measures.
Analyst James Ratzer raised concerns about TalkTalk's long-term viability, indicating that the fundamental issues within the company's business model may not be easily resolved with these cuts.
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