Vivendi’s SFR Plans $1.3 Billion in Spending Cuts, JDD Reports
Vivendi SA (VIV)’s SFR mobile-phone unit will announce a cost-reduction plan to employees on July 3 and plans to cut spending by 1 billion euros ($1.3 billion), Le Journal du Dimanche reported, citing unidentified people.
The company plans to trim costs by about 800 million euros and curb network spending by 200 million euros, the newspaper said. Unions expect about 1,000 job cuts, mainly in commercial and retail services, according to the JDD.
SFR has asked suppliers of call-center services such as Teleperformance SA (RCF) for a 10 percent to 25 percent cost reduction, according to the newspaper.
To contact the reporter on this story: Rudy Ruitenberg in Paris at rruitenberg@bloomberg.net
To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net
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