Mobile operator Sunrise to cut up to 175 jobs
Switzerland’s second largest mobile operator, Sunrise Communications, is cutting up to 175 jobs — almost ten percent of its staff — as part of a plan to streamline operations and reduce costs.
The Zurich-based company, partially owned by UK-based private equity firm CVC Capital Partners, said on Tuesday the plan involves merging its business and residential units to improve efficiency and to “avoid duplications”.
The reorganization will cut Sunrise’s headcount by up to 175 (up to 165 full-time equivalents) out of a total of 1,890 FTEs, the company said in a news release.
Sunrise, which launched shares on the Swiss stock exchange in February, has put in place a redundancy scheme for affected employees after talks with employee representatives and the syndicom trade union.
The streamlining will not impact customer service or sales staff in stores, it said.
The company said the change would be implemented by the end of the third quarter this year with one-off charges of 21 million francs until the end of this year.
It expects to save 5.5 million francs per quarter starting in the fourth quarter of this year.
Sunrise had a 26.9 percent market share of the Swiss mobile market as of March 2015, behind Swisscom (54.9 percent) and ahead of Salt (18.2 percent).