Broadband giant BT is to make another 15,000 redundancies on the back of a £134 million loss for the full-year.
The news will take recent job losses at the telecoms group to about 30,000 after dismissing approximately 15,000 employees in the past 12 months.
BT attributed the pre-tax loss, which follows a profit of almost £2 billion in the year up to March 31st 2008, to the poor performance of its BT Global Services division.
Chairman of BT, Sir Mike Rake, said: "This has been a challenging year in which BT has had to tackle some significant issues.
"I am confident that decisive action by management has addressed the underlying problems within BT Global services."
Mr Rake added that the changes will produce a substantial improvement to the company's fortunes in coming years.
Despite the loss, BT's broadband division raised its subscription base by approximately 100,000 to 4.8 million users.