BT reveals £3bn cuts as it passes peak full-fibre broadband spend

Jobs reduction target unchanged but full-year divided raised on drop in pre-tax earnings to £1.1bn

BT has disclosed a further £3bn cost-cutting drive as the telecoms group signalled it had now passed peak investment in the rollout of its UK full-fibre broadband network and raised its dividend.

Allison Kirkby, who took over as chief executive this year, said the company had reached an “inflection point” in its strategy, as she faces pressure to revive the flagging group.