BT likely to cut IT spends by 10% in 2012: Sources

Excerpts from Reporter's Diary on

Bad days are not over yet. British Telecom is likely to cut its IT spend by 10% in 2012, reports CNBC-TV18's Kritika Saxena quoting sources. It is learnt that the global board of BT has cleared the IT budget of 2012.

In the new budget, BT is likely to have reduced its discretionary spends and may even seek price discounts from the existing vendors as well. There are also whispers that global telecom players may cut IT budgets in 2012.

However, BT has denied commenting on the development calling it a speculation.