Virgin Media O2 plans to cut up to 2,000 jobs, or over 10 percent of its staff by the end of the year. The group, which employs 18,700 staff, plans to reduce its number of employees after company costs soared on high inflation.

The British telecoms group which provides phone, broadband and television services stated this on Tuesday.

"As we continue to integrate and transform as a company, we are currently consulting on proposals to simplify our operating model to better deliver for customers," Virgin Media O2 said in a statement.

British mobile giant Vodafone plans to cut 11,000 jobs over three years, while UK telecoms group BT will slash 55,000 positions, or nearly half of its staff, by the end of the decade, the companies announced in May.