BT’s CEO, Gavin Patterson, and outgoing group finance director Tony Chanmugam, have been denied their bonuses for 2016-17 following a review by the company’s remuneration committee. The announcement came as BT confirmed it will cut 4,000 jobs over the next two years as part of a restructuring process. Over the past year BT has experienced controversies relating to accounting irregularities in its Italian business and issues of deemed consent relating to its Ofcom business. In March, BT was fined £42m by Openreach for abuse of its market leader position in respect of Ofcom.
BT’s CEO, Gavin Patterson, and outgoing group finance director Tony Chanmugam, have been denied their bonuses for 2016-17 following a review by the company’s remuneration committee. The announcement came as BT confirmed it will cut 4,000 jobs over the next two years as part of a restructuring process. Over the past year BT has experienced controversies relating to accounting irregularities in its Italian business and issues of deemed consent relating to its Openreach business. In March, BT was fined £42m by Ofcom for abuse of its market leader position in respect of Openreach.