BT warns of $470m global services charge

Dan O'Shea, FierceTelecom
23 Jan 2009
00:00

BT faces a charge against earnings of about $470 million from the company's suddenly struggling BT Global Services unit, the company announced.

The warning follows a review of the global services division, which until last year was regarded a key component for BT's future success.

But then-CEO François Barrault resigned after the group's performance was held responsible for the company missing its target last year.

The key problem now appears not to be revenue, but profitability from previously negotiated service contracts.

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