London Full Fibre Broadband ISP G.Network Cuts Jobs and Shifts Strategy

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, has News Today announced a "strategic update" that will see some redundancies as the operator News Today 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 News Today 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.
NOTE: G.Network’s latest annual accounts to March 2024 (here) said their "wholly-owned and hard to replicate FTTP ducted network" now covers 416,000 premises, of which 361,000 are said to be "connectable under the Ofcom Connected Nations definition" (up from 330k last year). But an independent estimate in July 2024 put them closer to 250k as Ready For Service (here).
The situation improved again in June 2024 after the operator 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.£50 per month

➤ Business (B2B) penetration has grown to 10% and ARPU is averaging c.