BT axes graduate scheme to cut costs

misskool

http://news.bbc.co.uk/1/hi/business/8216762.stm

olly300

And?

Around 2001/2002 lots of companies where axing or freezing their graduate schemes. It's only made the news now because they did it in summer other companies chose to do it earlier in the year when there was other news so it could be buried.

In addition some of the people I went to university with where made redundant or companies went bust.

baileysbattlebus

In the last recession the company I worked for stopped it's graduate recruitment scheme too, at the same time it introduced a headcount freeze and pay reductions for everyone.

I would imagine a lot of companies will already have cancelled them for this year at least, and maybe even next year.

If companies are paring back on training - which is usually one of the first things to go - a lot of graduate recruitment involves a lot of training, and is quite expensive.

PasturesNew

It's only 160 places anyway. By dropping it they'll save thousands from being disappointed and wasting their time applying.

Degenerate

I don't blame them, in times like these you need to employ useful people, not British university graduates.

savemoney

I have a friend who works for BT they are trying to get rid of staff with various inducements

abaxas

Degenerate wrote: »

I don't blame them, in times like these you need to employ useful people, not British university graduates.

Agreed, most graduates are useless. In a recession you would tend to employ people who could do the job, not people who are mentally capable but will need 2-3 years of training to be any use.

mynameisdave

savemoney wrote: »

I have a friend who works for BT they are trying to get rid of staff with various inducements

I was one of their 15,000 to go this financial year. 160 graduate wages are the least of their problems

savemoney

I know my friend cant afford to leave given he just got a new house not long ago, he has worked for BT since leaving school and is in in 40's now

I remember him saying a lot of work has dried but ie new installtions due to no new housing and people cutting back etc

lostinrates

When I was a grad I rmemeber a peer landing an excellent, excellent job with BT. Amoung other benefits working from home was not just acceptable but encouraged: a huge boon IMO.

ILW

savemoney wrote: »

I have a friend who works for BT they are trying to get rid of staff with various inducements

What more inducement than "heres your P45 and a cheque for statutary redundancy" is required?