Last year, TalkTalk Group restructured, splitting into three distinct companies: TalkTalk Consumer, with over two million broadband customers; TalkTalk Business Direct; and PXC Communications, the wholesale brand.
The company warned earlier this year of potential collapse without securing new financing. By July, its annual report flagged insolvency risks as early as August 2024.
A TalkTalk spokesperson told the Manchester Evening News:
“This is the first stage in a multi-year transformation of our business to deliver differentiated service and products to our customers. We are simplifying our business to ensure that we can continue to offer great value connectivity to our millions of customers across the UK.
As part of this, we have made the difficult decision to launch a consultation about the future of some roles at TalkTalk’s consumer business.”
According to the article, TalkTalk will be extending the redundancy consultation period to pause for two weeks over Christmas, but around 130 redundancies are likely to be announced.
The business recently secured a £400m lifeline to manage its £1bn debt, ensuring both TalkTalk and PXC remain competitive and well-positioned for future growth.
