Job cuts, lost customers and a £22bn debt pile: what has gone wrong at Virgin Media O2?

Summary

The company has lost 182,000 broadband and 644,000 mobile customers in two years and is operating in an increasingly competitive market competition Mike Fries may be totting up swingeing job cuts, a £22bn debt pile and the loss of hundreds of thousands of customers, but he appears to be putting a brave face on the situation. “In our minds, anyway, this is not a crisis,” the boss of the co-owner of Virgin Media O2 said this week. The UK telecoms company, which offers broadband, TV, landline and mobile services, had just announced £800m in cost savings, including potentially cutting up to a…

Description from The Guardian.