Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The telecommunications operator SFR is planning to cut 1,700 jobs out of 9,500 in its telecommunications branch, according to the unions. The management takes into account in its communication the figure for all Altice subsidiaries in France, including SFR, that is 15,000 employees. According to the unions, 18% of the workforce will be cut, and 11% according to the management. The group's management sees the current crisis as an accelerator of transformation. The group has decided to cut 400 jobs out of 1,700 in the shops. The group intends to make use of voluntary departures. According to some employees who spoke to the media source, Altice, which had a very good financial year in 2020, is using COVID-19 as a pretext to make these job cuts.
In addition, SFR plans to hire 1,000 young people within four years. The aim is to recruit new talent to adapt to the changing environment. This will involve, for example, hiring in the field of cybersecurity.
In the past, Altice Group, has announced a substantial reorganisation, to cut5,000 positions (approximately 1/3rd of its workforce) in 2019. SFR launched a voluntary departure plan in 2008 (see SFR-2008), announced redundancies (120 jobs) as part of this plan in 2012 (see SFR-2012a) and other job cuts (1,123) in November 2012 (seeSRF-2012b).
Eurofound (2021), SFR, Internal restructuring in France, factsheet number 103739, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103739.