BT is to divide its operations into BT Wireless, based on its mobile operations in the UK, Ireland and other European markets, and Future BT, which will retain the core UK landline business.
Following the split, BT plans to leave its purpose-built 300,000 sq ft headquarters building at Newgate Street, London EC1 in the next 12-18 months. The complex is opposite St Paul's Cathedral behind Mitsubishi's Paternoster Square redevelopment.
Staff will be transferred to other divisions in BT buildings as far afield as Stockley Park at Heathrow, and the 400-500 'central activities' staff and executives will move to a smaller office in London. Significantly, The Newgate Street head office and the Telecom Tower in London's West End were the only BT buildings not included in the £2bn property portfolio outsourcing deal that BT agreed with land Securities Trillium last month.
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