BT is expected to make the announcement next week, alongside its financial report for Q1 2018

Former UK incumbent BT is set to announce as many as 6,600 job cuts, according to a report in the Financial Times. 

BT has faced a torrid 12 months, in which it has been forced to close its defined benefits pension scheme in an attempt to mitigate an estimated £13 billion payment deficit. 

Despite this shortfall, BT has spent big over the past 12 months, acquiring Premier League TV rights for its BT Sport channel. The deal will allow BT Sport to show Premier League matches from now until the end of the 2020/2021 season, at a cost of £295 million per season.  

Last year, BT announced 4,000 job cuts in an attempt to trim its outgoings, with current CEO Gavin Patterson also agreeing to a 75 per cent pay cut, as the firm struggled with the fallout from the Italian accounting scandal

In the last 12 months, BT has seen its share price slump from 305.65 pence per share in May 2017, to 232.15 pence per share today. 

BT has so far not commented on the potential job cuts, but it is expected to do so when it presents its quarterly financial report for Q1 2018 to the market next week.