Eircom ploughs forward on high-speed network

Despite recent difficulties, former monopoly Eircom plans to forge ahead with EUR400 million investments in ultra-high speed fibre networks, even as it seeks examinership status – possibly within the next few weeks, The Irish Independent reported.

Eircom is rewriting its long-term recovery plan in light of higher–than-expected falls in revenues and a new plan could be submitted to creditors and lenders soon.

With the revised plan at the centre of Eircom’s application for examinership, The Irish Independent reported the operator has no plan to reduce overall staff levels beyond the cuts announced last year.

Further, the amended business plan highlights Eircom’s intention to speed up its plan to roll out fibre to a million homes across the republic in three years instead of four, as originally announced.

Last year, Eircom confirmed plans to cut 1,000 jobs over 15 months to reduce its workforce to around 5,000 people.

The company previously cut 1,800 jobs in 2009 and 2010.

Eircom also has been trying to find a buyer in recent weeks.