Altice Portugal is making headlines with its decision to cut 1,000 jobs, which accounts for 16% of its workforce. This drastic move comes as advancements in artificial intelligence (AI) make certain roles redundant.
- 800 workers have already signed up for a buyout program in July, with an additional 200 having agreed to leave earlier, as revealed by Jorge Felix, president of the Union of Altice Portugal Workers. Altice has remained silent on these developments.
- "We can’t deny that Altice needs to adapt to increased automation and AI," Felix stated, highlighting the dual goals of cost reduction and making the company more appealing to potential buyers amidst its debt challenges.
- The telecom giant is not alone in its struggles; NOS SGPS SA, Portugal's second-largest telecom company, also announced job cuts in May, signaling a tough competitive landscape exacerbated by the entry of Digi Communications NV, a low-cost Romanian telecom firm.
- Despite previous attempts to sell Altice Portugal, including a failed plan to offload its infrastructure assets separately, the company continues to explore asset disposals. These include MEO, a stake in Fastfiber, and a data center, as part of its strategy to streamline operations and reduce debt.
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