Patterson said: "BT delivered a solid set of financial results in the fourth quarter, with growth in our consumer divisions offset by declines in our enterprise businesses, due to both challenging market conditions and our decision to exit lower margin business".
Britain's biggest telecoms operator, which announced 4,000 job cuts a year ago, said middle management and back office roles would face the brunt of the cull.
The British company said that about two-thirds of the job cuts will fall on its British workforce of about 80,000, with the remainder coming from the 18,000 staff it employs internationally.
Gavin Patterson, the chief executive of BT offered a predictably upbeat assessment of the changes.
Specifically in Global Services BT plans to introduce new digital products and focus more on its top global customers, while "significantly lowering costs".
Prospect, the union representing 140,000 public and private sector workers such as engineers and managers said the larger-than-expected cuts will be a "devastating blow" to its members and sounded "unrealistic".
"We need to do this to be competitive in the future".
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"Many of the roles that BT is proposing to cut are highly skilled professionals and the loss of that expertise could impact BT's research and innovation capability".
"If we are compared with our peers we are frankly too complex and overweight", Patterson said. However, it also announced that 6,500 people would be recruited into engineering and customer service roles as part of a plan to accelerate the roll-out of fibre broadband and eliminate so-called "not-spots" in urban areas.
He added that it was the "right thing for the business" and helps take BT "into its next chapter".
The strategy comes after the group reported a 3% drop in fourth-quarter revenue to £5.967 billion, just missing analysts' expectations, while core earnings came in at £2.083 billion, up 1%.
The company also revealed a 13-year plan to plug its £11.3bn pension fund deficit, including regular payments into the scheme and a bond issue.
BT had a total of 106,400 employees according to its most recent 2017 annual report.
BT was also past year hit by a £42 million fine from regulator Ofcom, plus a £300m compensation bill, for its failings around "deemed consent" in its Openreach division.
There will a loss of job of two-thirds of it in the United Kingdom itself.The company, BT also said that it would hire almost 6,000 new workers as part of a broad restructuring of the group.