The financial agency reports that approximately 800 workers joined a voluntary departure program in July, as stated by Jorge Félix, the president of the Altice Portugal workers’ union. This number adds to the 200 who had previously agreed to leave.
Bloomberg contacted an official source from Meo’s parent company, who declined to comment on the job cuts in Portugal.
“We cannot deny that Altice needs to adapt to the increase in automation and AI,” the union representative noted in a phone interview with Bloomberg.
“It is also true that Altice needs to cut costs and reduce debt, which makes the company more attractive to potential buyers,” he added.
On August 29 of last year, Altice’s Chief Financial Officer (CFO), Malo Corbin, dismissed the possibility of selling Meo’s parent company but admitted that the group would continue to explore opportunities, including the sale of some Altice Portugal assets.
The telecommunications operator has been investing in AI, in a market increasingly focused on technology and more competitive with the entry of Digi, which offers low-cost solutions.
[News updated at 18h44]
