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BT axes graduate recruit scheme | BT axes graduate recruit scheme |
(about 2 hours later) | |
Telecoms giant BT has closed its graduate recruitment programme as it continues to cut costs in the downturn. | Telecoms giant BT has closed its graduate recruitment programme as it continues to cut costs in the downturn. |
The firm said it had no plans to reopen the scheme, but added that it remained "committed to the 2009 intake", who are due to start in September. | The firm said it had no plans to reopen the scheme, but added that it remained "committed to the 2009 intake", who are due to start in September. |
The news will add to rising concern about youth unemployment. According to BBC calculations, the unemployment rate among 16 to 24 year olds stands at 19%. | The news will add to rising concern about youth unemployment. According to BBC calculations, the unemployment rate among 16 to 24 year olds stands at 19%. |
In May, BT said it planned to cut about 15,000 jobs in 2009, mostly in the UK. | In May, BT said it planned to cut about 15,000 jobs in 2009, mostly in the UK. |
"In light of the current economic environment and headcount pressures, BT has taken the decision to cease graduate recruitment activity and are no longer running a graduate recruitment programme," a BT spokesperson said. | "In light of the current economic environment and headcount pressures, BT has taken the decision to cease graduate recruitment activity and are no longer running a graduate recruitment programme," a BT spokesperson said. |
"At the present time, there is no timeline for re-entry." | "At the present time, there is no timeline for re-entry." |
Competition for jobs | Competition for jobs |
BT's graduate recruitment scheme has received a growing number of applicants in recent years. | BT's graduate recruitment scheme has received a growing number of applicants in recent years. |
Last year it received 4,800 applications for 130 jobs. The previous year it received 4,100. | Last year it received 4,800 applications for 130 jobs. The previous year it received 4,100. |
The announcement will come as a blow to university leavers finishing for the summer and starting to look for jobs. | The announcement will come as a blow to university leavers finishing for the summer and starting to look for jobs. |
According to the Association of Graduate Recruiters (AGR), graduate jobs have been cut by one quarter this year and 48 graduates will compete for every job on offer. | |
However, commenting on BT's decision, the AGR said: "It is important to look at this in context and to point out that few employers have abandoned their graduate recruitment programmes altogether. | |
"Most are likely to reinstate recruitment levels at the first sign of an upturn in the economy." | |
Business Secretary Lord Mandelson has called on businesses to offer work experience, mentoring and internships to avoid a generation "lost to work". | Business Secretary Lord Mandelson has called on businesses to offer work experience, mentoring and internships to avoid a generation "lost to work". |
BBC calculations based on ONS data show that in the 16-24 age range, about 928,000 people are classed as unemployed. | BBC calculations based on ONS data show that in the 16-24 age range, about 928,000 people are classed as unemployed. |
The total number of people out of work in the UK stands at 2.4 million. | The total number of people out of work in the UK stands at 2.4 million. |