Famed for boasting the broadest full fibre network in London, Community Fibre is initiating a shift in its tactical approach, it is now prioritizing service population over the extension of their network. A spokesperson from the firm elaborated on this move in a conversation with ISPreview. They stated, “The decision made by the Community Fibre Board to halt our network build, is seeded in the belief that we can ensure a more substantial return to our investors by shifting even more focus on our already fruitful marketing and sales endeavors. By doing this, we plan to constantly add more satisfied customers to our network.”
However, this transition in strategy will lead to inevitable job cuts. The official number of layoffs wasn’t disclosed, however, the firm reassured that they are aiming to restrict the number of redundancies as possible. More clarity on this matter is promised in the upcoming new year.
In a prior statement of their goals, the company had proposed to extend their full fibre network to 2.2 million premises within the UK by the end of next year. This signifies that they aim to cover about half of the 3.7 million residences in London. Back in October, the firm mentioned that it had secured a new financial facility amounting to a substantial £985 million. This hefty amount is being utilized to bolster the extension of the network.
The recent announcement that the network construction has been suspended leaves a cloud of uncertainty whether this disruption will affect the company’s outreach goals set for the end of 2024. In light of the job cut news and the pause on network extension, they reached an impressive customer acquisition milestone. In their press release, Community Fibre shared that they have hit the 200,000 customer mark. The ecstatic CEO, Graeme Oxby, stated, “We have welcomed over 200,000 subscribers to Community Fibre. Our homes are filled with the fastest speeds, best prices and optimum service in the market. As our focus turns towards boosting customer growth, we anticipate welcoming an increasing number of customers in 2024.”
Network operators across the UK are grappling with the double-sided sword of soaring costs and fierce competition. As such, the emphasis is gradually being shifted towards customer acquisition as a way to satisfy investor’s expectations.