Virgin Media launches restructuring with 900 job cuts

Virgin Media has revealed it could cut around 900 jobs over the next two years as part of a group-wide restructuring.

The cable internet and television provider, which is owned by US giant Liberty Global, said the restructuring was to improve growth not just cut costs.

Tom Mockridge, chief executive of Virgin Media, said: “The proposed reorganisation will give us an even sharper focus on the customer, network expansion and business growth.”

Virgin Media, which was taken over for £15bn by John Malone's Liberty in 2013, last February unveiled a £3bn investment in expanding its cable network to an extra 4m homes and businesses, called Project Lightning.

On Thursday the media group said the proposed changes to its operating structure could result in around 900 redundancies, with a consultation period now kicking off with employees in potentially affected roles.

Overall, Virgin said it continued to increase its level of recruitment, particularly in areas driving its growth, with the workforce, including those working for outsourced partners in the UK and overseas, expanding from around 23,000 in 2015 to more than 25,000 in 2016 and 26,000 in 2017.

The five-year Project Lightning plan is predicted to create 6,000 new jobs in the UK, including with construction partners and 1,000 new apprenticeships.