BT warns of more job losses as rising bills force bigger cost-cutting drive

Telecom giant blames 18% fall in profits on need for extra savings after 200m energy bill increase and soaring inflation

BT has warned of more job cuts to come after it was forced to find more than 500m in additional savings due to soaring inflation and energy bills.

The company, which reported an 18% slump in pretax profits from just over 1bn to 831m year-on-year in the six months to the end of September, said its energy bill will be 200m higher this year.