Liberty Global's Sunrise UPC to cut 600 jobs

Liberty Global's Sunrise UPC to cut 600 jobs

André Krause.jpg

Sunrise UPC, the Swiss unit of Liberty Global that was acquired last year, is to cut 600 jobs by the end of next year.

The US$7.4 billion acquisition closed in November, following which it was confirmed that André Krause (pictured) would be CEO of the new combined business, supported by Severina Pascu as deputy CEO and COO.

Today, the company has confirmed that 300 jobs will be cut this year with a further 150 next year and another 150 reduced through attrition to 2022-end.

With a total staff of 3,350 people, the cuts represent 13.5% of the total workforce.

The restructure was announced in January and consultations have now been completed. Sunrise said in a statement that most employees affected will be informed by the end of May at the latest.

Sunrise added: "For 2022, we expect a reduction of about 200 jobs: 150 through redundancies primarily in Finance, IT and Technology and about 50 through attrition."

First announced in February 2019, Liberty came to acquire Sunrise nine months after ending discussions about selling its cable co, Swiss UPC, to Sunrise.

Freenet AG – the German operator with a 24% interest in Sunrise – originally opposed the deal, a position which halted the deal and saw Sunrise CEO Olaf Swantee leave the group. However, it gave its blessing last August and the acquisition closed a few months later.






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