Even after announcing thousands of job cuts, it seems BT might be forced into cuts in other areas following pressure from shareholders.

It's being reported that the company's £1.5 billion investment in high-speed, fibre optic broadband networks is at risk of getting axed.

Shareholders are apparently concerned about the level of investment - and potential return - in the current economic climate.

Chief executive Ian Livingston has revealed that he had been contacted by shareholders who think that the telecommunications firm "should hold onto the money".

"We need to have the environment in which our shareholders feel there is a good chance of us making a return", Livingston said.

"If we cannot have that environment this is not the time to be taking on sure-fire losses."