Plusnet cuts jobs when sales and profits are cut off

Friday 15 August 2025 8:40

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Plusnet cut more than 100 jobs because sales and profits were deducted during the latest financial year, it was revealed.

The broadband provider based in Sheffield, owned by BT, has posted a turnover of £ 342.4 million for 12 months to March 31, 2025, down from £ 401.8 million achieved in the previous year.

Plusnet said the decline in turnover was mainly due to the closure of the cellular division and lower equipment sales.

The new account submitted to the Companies House also shows that the profit before the plusnet tax is reduced from £ 82.2 million to £ 70.9 million.

The shadow of the number of companies fell in the year from 1,077 to 944 “driven by a strategic focus and the need to streamline the operation” while the number of customers was cut by nine percent.

Plusnet issued a dividend of £ 80 million for its parent company for this year, the same total as the previous 12 months.

Last month, the owner of BT posted a 10 percent decrease in reported profits before tax above the three percent decline in adjusted revenue, while reaffirming ‘on the path’ to reach a full year guide.

In a trade update for three months to 30 June, the FTSE 100 company told the profitable shareholders reported before tax dropped 10 percent to £ 468 million, “mainly due to an increase in net financial costs and depreciation and amortization”.

From the business perspective of the customer’s customer base grows in the quarter, with a broadband base rose 11,000 and postpaid cellular base rose 41,000.

Plusnet Rival Talktalk also cuts the job

The results for plusnet come afterwards AM City It was revealed earlier this month, it is entirely in Talktalk’s financial misery in the midst of Sky-Rocketing losses and losing a very large job because customers move to other broadband providers.

The account for the group based in Salford submitted to the Companies House confirmed its pre-tax losses jumped from £ 153 million to £ 465 million that year to 28 February 2025.

They also showed that Talktalk lost around 420,000 broadband customers this year.

The group said the reduction was mainly on the talktalk side of the business (277,000) because of its deviation to “refocus our acquisition strategy and deliberately think from unfavorable segments and customers”.

The results also revealed that Talktalk’s revenue declined this year from £ 1.51 billion to £ 1.41 billion while the number of employees was reduced from 2,065 to 1,570.