France's Bouygues Telecom to Cut Workforce by Nearly 20 Percent

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By Agence France-Presse | Updated: 12 June 2014 10:48 IST

Embattled French telecoms firm Bouygues Telecom said Wednesday it would cut nearly 20 percent of its workforce as it seeks to survive in the struggling sector.

The loss-making subsidiary of the Bouygues conglomerate, which also has interests in construction and television, said in a statement it planned to shed 1,516 jobs out of 9,000 as part of a restructuring plan aimed at ensuring "its future in an autonomous manner."

Like other mobile phone operators, Bouygues has struggled since 2012 when Free - the brainchild of tech tycoon Xavier Niel - entered the telecoms market with low-price services, setting in motion upheaval in the sector and a brutal price war that has benefited consumers.

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It attempted to consolidate its position in the sector earlier this year by bidding for ailing mobile phone operator SFR, but lost out to cable and fibre-optic network operator Numericable.

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(Also Read: Battle for French telecom supremacy heats up)

The firm then held talks with Orange, formerly the French state monopoly France Telecom, and Iliad - Free's parent company.

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But Bouygues Telecom head Olivier Roussat said Wednesday those discussions had been unsuccessful, prompting a drop of around seven percent in shares in the company and in Iliad.

 

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