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French mobile and internet operator SFR 'to cut 5,000 jobs'

Union sources said they were informed by the company, taken over by Patrick Drahi in 2014, that a third of its workforce in France will be cut by 2019. 

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SFR Group, the French unit of Patrick Drahi's Altice, plans to cut a third of its workforce between 2017 and 2019, a union representative has said, reports MarketWatch.

The company's human resources manager told unions in a closed door meeting earlier this week that it was targeting a headcount of around 9,000 by 2019, down from around 14,300 today, the union representative said.

A company spokesman said that it was too early to comment on the figures.

"Everyone is agreed that SFR must reorganize itself to become the digital company that it should be," he said.

He added that Altice made a commitment not to cut jobs until July 2017 when it bought SFR and will continue to honour that.

Rivals including Orange and Bouygues Telecom have reduced headcount in recent years as a fierce price war in France has eroded the margins of telecoms companies.

Read more of this report from MarketWatch.