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ATUS WI - Altice USA Inc News Story

$17.71 0.0  0.1%

Last Trade - 08/06/18

Sector
Telecoms
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £7.04bn
Position in Universe th / 6846

Altice Europe French unit SFR to tap state unemployment scheme -union officials

Tue 24th March, 2020 12:38pm
PARIS, March 24 (Reuters) - Altice Europe's  ATCA.AS  French
division SFR will look to tap a state partial unemployment
scheme for up to 60% of its workforce in the wake of the
coronavirus outbreak, two union officials said on Tuesday. 
    France has launched a package of crisis measures worth 45
billion euros or 2% of its GDP including payments to companies
that keep workers on their payroll even if they are not working.
    "There's obviously a windfall effect, an opportunism.
Management is like: why not give it a try?," CFDT union leader
Xavier Courtillat said in phone interview, adding that he was
shocked that SFR could ask taxpayers to pay salaries for SFR's
staff.
    SFR CEO Grégory Rabuel told staff the company had submitted
such a demand to authorities, without elaborating on the
proportion of staff to be impacted. 
    SFR declined to comment but a source close to SFR's
management said that the proportion was between 40% and 50%.
  
    
    

 (Reporting by Mathieu Rosemain; editing by Jason Neely)
 ((Mathieu.Rosemain@thomsonreuters.com; +33 1 4949 5182; Reuters
Messaging: mathieu.rosemain.thomsonreuters.com@reuters.net;
Twitter: https://twitter.com/MathieuRosemain))
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