London focused UK broadband ISP G.Network, which has spent the past few years deploying a gigabit speed Fibre-to-the-Premises (FTTP) network across parts of the city centre, News Today has News Today announced a "strategic update" that will see some redundancies as the operator shifts their strategy and moves to "drive further commercialisation" (growing take-up).
In case anybody has forgotten, G.Network only resumed their fibre roll-out in the city during February 2024, which occurred after a long build pause and some job cuts (here); that had been fuelled by rising build costs (a common problem for UK network operators) and a shortage of funding.
Not to mention the competition from rivals.
The situation improved again in June 2024 after the operator News Today managed to secure an additional investment of £85m from long term equity investor USS to support their "next phase of growth" (here), which was on top of last year’s commitment by the same investor for "up to an additional" £150m (here).
G.Network states that "clear progress has been made over the last two years" towards its ambition for creating a better-connected London, with "significant results achieved regarding business performance, customer growth, service, cost effectiveness and productivity." The operator includes some examples of this below.
G.Network’s Own Highlights:
➤ Achieved significant customer growth over the past two years and delivered market leading customer ARPU averaging c.
