It comes as the British mobile company is said to have started sending quit notices to its employees on Monday evening (July 24).
This means significant job cuts will take place for more than a tenth of the operator’s workforce, reports walkie talkie.
Virgin Media O2 was formed in June 2021 as a joint venture between Liberty Global and Telefónica, merging Virgin Media and O2 UK businesses.
📢 Our 2023 Q2 financial results – as Virgin Media O2 is now out.
– Virgin Media O2 News (@VMO2News) July 25, 2023
In the same year, it was one of the largest telecommunications and entertainment operators in the UK, with around 47 million customers.
ONE virgin vehicle An O2 spokesperson said: “As we continue to integrate and transform as a company, we are currently consulting on proposals to simplify our operating model to better deliver to customers, which will reduce some roles this year.
“While we know that any period of change can be difficult, we are committed to supporting all of our employees and are working closely with CWU and Prospect along with our internal employee representatives as we have open and honest conversations about the future direction of the business.”
Virgin Money closes almost a third of branches
It was recently announced that Virgin Money would close 39 branches across the UK, leaving 255 workers expected to face a redundancy.
From now until July 27, @Virgin vehicle is offering new customers Xbox Series S or £200 bill credit with Bigger + Sport, Bigger + Movie or Ultimate Volt plans
– Virgin Media O2 News (@VMO2News) July 24, 2023
The business said it would close banks due to changing customer demand, which would lead to fewer people going to banks in favor of online services.
Virgin Money added that it decided to close these stores based on factors including customer volume, transaction volume and the number of vulnerable customers in the local area.
This will leave 91 branches open but you can see the full list of closed branches This.
Sarah Wilkinson, chief executive of Virgin Money, said: “The decision to close a store should never be taken lightly.
“But as our customers continue to change the way they want to bank with us, by making fewer transactions in-store and adopting the convenience of digital banking, we must meet that growing need.
“As for our colleagues, we will be pursuing all options to retain as many people as possible in alternative roles and have had great success in the past as store colleagues transition to other customer operations roles, as their skills are highly transferable.”