BT has shortlisted four buildings for its new headquarters in London. In May, BT announced its plans to move out of its City of London HQ at 81 Newgate Street as part of a cost cutting strategy.
The telecoms giant has narrowed down its choices to One Braham in Aldgate, 80 Fenchurch Street, Canary Wharf Group’s Wood Wharf scheme and the International Quarter in Stratford.
The first round of bids for BT’s 273,000 sq ft, ten-storey headquarters building near St Paul’s were submitted last week, with a second round happening imminently. The building was constructed by BT in 1985 for its own occupation.
BT said the move out of St Paul’s formed part of a cost-cutting plan to reduce the number of locations it owns across the UK from 50 to 30. The company are looking for “modern, strategic sites to create a more collaborative, open and customer-focused working culture”.
In May, the Chief Executive of BT, Gavin Patterson, announced that the cost-cutting plan will see 13,000 management and back-office jobs axed over the next three years. As part of the strategy, the company will also hire 6,000 new employees and launch new product offerings with the aim to save £1.5bn over the three years. In June, BT announced that Patterson is to step down from the position after 14 years at the company.