TELECOMS FIRM THREE SET TO CUT 280 JOBS IN BRITAIN

MOBILE telecoms company Three will slash 280 jobs in the UK as the pandemic hurt the company’s revenues. The cuts will mainly affect staff in the UK head office.

Three is owned by Hong Kong conglomerate CK Hutchison which has seen its share price plunge by a third this year after political unrest there. The turmoil has hurt the company’s energy, retail, ports and real estate businesses.

In August, Chairman Victor Li said controls on costs would be “stringent” after profit fell 29% in the first half.