LONDON—Mm02, the mobile-phone unit spun off from British Telecommunications plc last year, said it plans to cut 1,900 jobs in the United Kingdom and Germany as part of its restructuring efforts.
The cuts will come during the upcoming year, for a savings of about $100 million per year, according to international press reports. The company will also record a one-time charge of $156 million for the current year.
The U.K. staff will decrease by 1,400 people to 6,100 employees, with 500 positions cut in Germany, leaving 3,400 staff.
The European operator said the cuts are in line with its plans to streamline operations. Mm02 also said it increased its subscriber base by 453,000 subscribers during the third fiscal quarter.
