It has been a tough year to say the least for France Telecom, yet the company remains confident that it will achieve its financial targets for 2009. The once state-run telco has seen an unprecedented number of employee suicides [1] over the past year (25 to date) over poor working conditions and ongoing layoffs.
Achieving these goals won't be easy. France Telecom reported [2] that its third-quarter earnings were $6.72 billion and said that it would cost the company up to $1.45 billion to improve employee morale. However, FT's revenue dropped 6.4 percent to $18.8 billion, falling short of analyst forecasts of $19.03 billion.
"We are exactly in line with what we have said at the end of the year, and I consider that we will be able to deliver the performance we have promised to the market for the full year for France Telecom," Chief Executive Officer Didier Lombard told a news conference in Vietnam's capital.
For more:
- Reuters has this article [3]
Related articles
Sluggish economy impacts France Telecom's Q3 results [2]
France Telecom sees 24th employee suicide [4]
France Telecom puts restructuring process on hold
[5]Current France Telecom CEO should resign, say political groups [6] [5]
Links:
[1] http://www.fiercetelecom.com/story/france-telecom-current-ceo-should-resign-say-political-groups/2009-10-01
[2] http://www.fiercetelecom.com/story/sluggish-economy-impacts-france-telecoms-q3-results/2009-10-29
[3] http://www.reuters.com/article/rbssTechMediaTelecomNews/idUSHAN4420120091113
[4] http://www.fiercetelecom.com/story/france-telecom-sees-24th-employee-suicide/2009-09-29
[5] http://www.fiercetelecom.com/story/france-telecom-puts-restructuring-process-hold/2009-10-21
[6] http://www.fiercetelecom.com/../../story/france-telecom-current-ceo-should-resign-say-political-groups/2009-10-01