Groupe E closes two subsidiaries and cuts jobs
Published: Tuesday, Nov 5th 2024, 13:00
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The French-speaking Swiss energy company Groupe E is discontinuing the activities of its two subsidiaries S. Roubaty SA and FTH Services. 69 jobs will be cut. In this way, the Group intends to realign its activities in the area of fiber optics.
The closure of the two companies is necessary and is based on a comprehensive analysis, the company announced on Tuesday. According to the analysis, the profitability of these subsidiaries is insufficient. The economic environment is also unfavorable for the expansion of activities.
The Swiss market for fiber optic infrastructures has changed from Fiber To The Street (FTTS) to Fiber To The Home (FTTH), the so-called "last mile", according to the statement. This sector is coming under increasing pressure due to shrinking margins. The price adjustments imposed by the main players are jeopardizing the profitability of subcontractors.
The closure of the two companies is planned for the end of 2025. Groupe E intends to draw up a social plan in consultation with the trade union for the 69 job cuts. The social impact is also to be cushioned by measures such as early retirement, internal reclassifications, support in finding a job or natural departures.
The Fixnet unit, which is also active in the construction of fiber optic infrastructures, is not affected. Thanks to greater diversification and specialist expertise, it continues to complement the Group's activities.
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