Virgin Media O2 job cuts: what the reports say, and what they leave out for customers

Virgin Media O2 (VMO2) is reportedly preparing a cost-cutting programme worth about £600m, and some insiders expect it to cost roughly 4,000 jobs. The claim comes from a news report published on 31 October 2026. VMO2 has declined to comment.

The company has about 16,000 staff in the UK, so a reduction of 4,000 would take out a quarter of its workforce. The figure is an insiders' expectation, not an announcement. The report says VMO2 is not currently expected to publish a final headcount number.

What is expected next week

People close to the company have reportedly said the savings target will be set out in VMO2's latest quarterly results, due early next week. On the report's account, the results should give the financial goal but not say how many roles will go.

The cost-cutting drive has been rumoured for a while, so the move is not a big surprise. It is linked to VMO2's debt of about £22bn and to falling prices for its bonds.

Contractors and suppliers should also expect changes, as the operator looks for savings beyond its own payroll.

What it means for customers

The reports do not say what changes for customers. Nothing has been confirmed about prices, service or support.

There are hints about network plans in separate reports from 30 October. These say Virgin Media may use Openreach's full fibre network to reach customers in areas it does not yet serve with its own fibre. If that goes ahead, Virgin Media's own programme of upgrading its existing network to full fibre would stop, and existing build and upgrade work could be shelved.

That upgrade programme is known as Project Mustang, or Fibre Up. It has been using Virgin Media's existing cable ducts to bring full fibre (FTTP) to areas currently served by older hybrid fibre coax (HFC) cabling. Its original completion target has not been mentioned for some time.

The reports do not link the job cuts directly to the Openreach talks. Both stories point to a company reviewing how it spends money and where it builds.

Where Virgin Media prices stand

Our own stored deal data (as of 1 November 2026) shows Virgin Media's cheapest listed deal is M125 Broadband Only at an effective £18.99 per month, with an advertised download speed of 132Mbps and a BBP Score of 63 out of 100. Availability has not been checked, and the technology behind this deal has not been verified.

Among alternatives, YouFibre's cheapest stored deal is You 200 at £22.00 per month, advertising 200Mbps, with a BBP Score of 62. Community Fibre's 100Mbps Fibre Broadband on a 24-month term comes to £14.00 per month, and 4th Utility's 150Mb Full Fibre CityFibre deal, also on 24 months, is £15.75 per month. Three's 4G Hub on 24 months is £14.00 per month. None of these prices has been checked for availability.

VMO2's quarterly results, expected early next week, should show whether the £600m target is confirmed and what the company says about how it will be reached.

Broadband deals from this provider

Virgin Media: M125 Broadband Only, cheapest stored deal (effective monthly; availability not checked): £18.99 per month (as of 2026-11-01).

Virgin Media: BBP Score for M125 Broadband Only: 63 points/100 (as of 2026-11-01).

Virgin Media: advertised download for M125 Broadband Only: 132 Mbps (as of 2026-11-01).