BT plans to shed 4,000 jobs globally within two years, mainly across back office and managerial positions in its Global Services division.
The cuts come after an accounting scandal within the Italian operation of BT's Global Services arm that cost the company over £500m.
BT Group Chief Executive Gavin Patterson and outgoing Group Finance Director Tony Chanmugam will not receive a bonus for the 2016/17 financial year.
The Remuneration Committee also confirmed that Gavin Patterson and Tony Chanmugam understood the Committee's decision not to award a bonus and had indicated they would not have accepted a bonus should one have been approved.
BT also announced that Bas Burger is to become CEO, Global Services from 1st June. Burger has been at BT for nine years in a variety of roles, most recently President of BT in the Americas, where he leads BT's business in the United States, Canada and Latin America.
Today's news coincided with BT's published results for year the to 31st March 2017 which disclosed that BT's annual pre-tax profits dropped 19% to £2.35bn.