Sunrise Communications to Cut Up to 175 Jobs to Reduce CostsBy
Sunrise Communications Group AG, Switzerland’s second-largest mobile-phone operator, plans to cut about 9 percent of its jobs to reduce costs amid rising competition in the country’s telephone market.
Sunrise is cutting as many as 175 jobs, a measure that will incur one-time costs of 21 million francs ($22 million) this year, the Zurich-based company said Tuesday in a statement. The company has about 1,890 full-time positions.
“Sunrise is adapting its organization as part of an initiative to simplify its structures and processes in order to strengthen customer focus and improve its competitive cost structure,” the company said.
The move should result in quarterly savings of 5.5 million francs starting in the fourth quarter, Sunrise said.
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