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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 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, News Today 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.
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,
News Today 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).