BT Group is planning to slash up to 55,000 jobs in the next five to seven years as it turns to technology to cut costs and simplify its business.

The UK telecoms company said Thursday that its total workforce would fall to between 75,000 and 90,000 by 2028-2030, from 130,000 at present.

"By continuing to build and connect like fury, digitize the way we work and simplify our structure, by the end of the 2020s BT Group will rely on a much smaller workforce and a significantly reduced cost base," CEO Philip Jansen said in a statement. "New BT Group will be a leaner business with a brighter future."

— This is a developing story and will be updated.