Embattled French telecoms firm Bouygues Telecom stated Wednesday it would minimize nearly 20 % of its team of workers as it seeks to live on in the struggling sector.
The loss-making subsidiary of the Bouygues conglomerate, which also has interests in building and TV, mentioned in a commentary it deliberate to shed 1,516 jobs out of 9,000 as part of a restructuring plan aimed toward ensuring “its future in a self-sufficient manner.”
Like different mobile phone operators, Bouygues has struggled considering 2012 when Free – the brainchild of tech rich person Xavier Neil – entered the telecoms market with low-worth services and products, surroundings in movement upheaval in the sector and a brutal price competition that has benefited shoppers.
It attempted to consolidate its position in the sector previous these 12 months via bidding for in poor health mobile phone operator SFR, however misplaced out to cable and Fibre-optic network operator Numeric able.
The agency then held talks with Orange, previously the French state monopoly France Telecom, and Iliad – Frees guardian company.
However Bouygues Telecom head Olivier Roust stated Wednesday these discussions had been unsuccessful, prompting a drop of around seven % in shares in the firm and in Iliad.