Virgin Media O2 is preparing to cut as many as 4,000 jobs, equivalent to 25% of its 16,000-strong workforce, as it seeks to reduce costs and manage a £22 billion debt pile, Sky News reported. Most affected positions are expected to be non-customer-facing, with senior-management changes also planned. The Communication Workers Union and Prospect have been briefed, while final details are expected with the company's third-quarter results on Tuesday. The plans follow reports that parent companies Liberty Global and Telefónica were considering operating-expenditure reductions, including possible changes to the company's £200 million dividend, after a summer bond sell-off raised investor concerns about debt servicing. VMO2 was created in June 2021 as a 50:50 joint venture combining Virgin Media and O2's UK operations in a £31 billion transaction. The company has since faced higher interest costs, customer losses and regulatory uncertainty over its parents' proposed £2 billion acquisition of Netomnia.