Telecoms giant BT is set to cut 4,000 jobs worldwide over the next two years.

The company said the cuts would affect back-office and managerial staff, as reported by the BBC.

BT aims to simplify its Global Service operations, following Italian accounting issues that cost the company more than £500m. Earlier this year, the company was forced to write down the value of its Italian business, after years of overstating profits.

BT boss Gavin Patterson will lose his bonus as a result but said he would have refused a bonus if it had been offered. According to BT's annual report, he received a bonus of £4m for 2015/16, on top of his £969,000 salary.

The company now says it wants to reposition Global Services to focus more on the digital side, as improvements in technology mean it is less dependent on owning physical network assets around the world.

The announcements came as BT revealed its annual pre-tax profits had fallen by 19% to £2.35bn in the year to March.

What do you think? Email mark@moosemarketingandpr.co.uk 

Photo credit: BT