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| Version 2 | Version 3 |
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| BT axes graduate recruit scheme | BT axes graduate recruit scheme |
| (40 minutes 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." |
| BT is the first major UK employer to formally close its graduate recruitment scheme since the recession began last year, says BBC business correspondent Joe Lynam. | |
| Competition for jobs | Competition for jobs |
| It is important to look at this in context and to point out that few employers have abandoned their graduate recruitment programmes altogether Association of Graduate Recruiters | It is important to look at this in context and to point out that few employers have abandoned their graduate recruitment programmes altogether Association of Graduate Recruiters |
| 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. | 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. | 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." | "Most are likely to reinstate recruitment levels at the first sign of an upturn in the economy." |
| 'Lost generation' | 'Lost generation' |
| 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. |
| Business Secretary Lord Mandelson has previously called on firms to help the government tackle youth unemployment and so avoid a generation "lost to work". | Business Secretary Lord Mandelson has previously called on firms to help the government tackle youth unemployment and so avoid a generation "lost to work". |
| A spokesperson for the Department for Business, Innovation and Skills said: "The government is backing young Britain by offering a range of options including training, mentoring, work experience and up to 15,000 graduate level internships . | A spokesperson for the Department for Business, Innovation and Skills said: "The government is backing young Britain by offering a range of options including training, mentoring, work experience and up to 15,000 graduate level internships . |
| "We are also developing real help and support, talking to major employers about ensuring graduates get experience of work and a chance to show what they can do." | "We are also developing real help and support, talking to major employers about ensuring graduates get experience of work and a chance to show what they can do." |