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BT to slash 13,000 jobs, leave London HQ

British Telecom plans to lay off about 13,000 employees in the next three years and will close down its London headquarters as part of a strategy to "transform" its operating model.

The job cuts will mostly come from the company's back-office department and middle management.

The plans are part of BT's goal to reduce costs by about £1.5 billion during a three-year period and to allot more funds to investing in projects.

BT is also targeting a £3.7 billion annual CapEx allocation for mobile infrastructure and plans to hire 6,000 employees to focus on supporting network deployment and customer service.

The company is trying to win back investors following an accounting scandal in Italy in 2017, which cost it a £530 million write-down and repeated curtailing of its financial goals.

BT said in 2017 that it would reduce about 4,000 jobs globally in an overhaul of its global services division.