BT ends graduate recruitment programme

Telecom giant BT has scrapped its graduate recruitment scheme, adding to the worries of job-seekers leaving universities.

UK's fixed-line telecom provider has held economic downturn responsible for its recent move.

Company's business came under pressure recently when it posted 3 per cent decline in earnings to 1.37 billion pounds for the three months ended June 30.

Earlier in 2009, the company slashed its dividend after posting a fall of 45 per cent in pre-tax profits to 272 million pounds.

UK's ninth-largest employer, BT has slashed both permanent and contract staff by 15,000 to 147,000 in the year to March.

BT said the number of graduates applying for the 130 jobs has soared to 4,800 in 2009 from 3,800 in 2007.

As per recent survey, during the last one year, UK witnessed a decline of 24.9 per cent in the number of graduate vacancies.

Total unemployment soared to 2.43 million in June, a 14-year high.

CBI director-general, Richard Lambert, said, "Young people leaving education this summer face the toughest job market in a generation." 

The company further warned that there was no timetable for the reintroduction of the graduate recruitment scheme.