London focused UK broadband ISP G.Network, News Today 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 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 managed to secure an additional investment of £85m from long term equity investor News Today 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).
