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Vivendi in Cost Hunt at SFR Mobile Unit, Eyes Job Cuts

Vivendi SA, which began a review of its SFR wireless division last month, may eliminate hundreds of marketing and administrative positions to offset a projected slump in earnings of as much as 570 million euros ($749 million) at the unit, top union officials said.

SFR, the venture Vivendi bought out for 7.95 billion euros last year, has frozen new projects, hirings and research to adapt to falling prices in the French market after Iliad SA started a discounted service in January, union representative Damien Bornerand said in a phone interview. The unit of Paris-based Vivendi employs about 10,000 people.