Altice (company): Difference between revisions
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THE ALTICE TIMELINE |
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Altice pledges to cut $900 million out of Cablevision (Sept. 2015) |
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“I don’t like to pay salaries...I pay as little as I can.” Patrick Drahi (Sept. 2015) |
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"There are more than 300 people at Cablevision earning more than $300,000...... this we will change" Dexter Goei (Sept. 2015) |
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Some critics have said that the only way to achieve its cost cutting goal is to decimate customer service. Goei said that couldn’t be further from the truth: “Why would we ever do that? Why would we ever make our customers unhappy that they would want to churn and go somewhere else? That’s not what we’re talking about. This is not about doing large cuts in the workforce.” (June 2016) |
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Altice closes Suddenlink call center in Greenville, NC affecting 81 employees (July 2016) |
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Altice shut down Shelton call center and Stratford facility eliminating 600 employees. (Aug. 2016) |
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Altice closes Peekskill and Stamford warehouses, Logistics dept. eliminated (Sept. 2016) |
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Altice lay off in-house Security team (Oct. 2016) |
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Altice offers Voluntary Separation Package exclusively to field technicians (initially) (Oct. 2016) |
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Altice informs employees via email that they will no longer receive Holiday Bonus (referring to it as a “highly unique practice”) (Dec 2016) |
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Altice creates alter-ego company and coerce 90% of technicians to resign from their position with Altice and rehire them as day one federal contractors. (Dec. 2016) |
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Altice offers Voluntary Retirement Package to all employees that qualify (70-year rule) (Jan 2017) |
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Altice shuts down Bethpage warehouse eliminating 98 workers (March 2017) |
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Altice lays off Facilities dept. (outsourced to Cushman & Wakefield (April 2017) |
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Altice lays off Fleet dept. (April 2017) |
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Altice closes Suddenlink call center in Parkersburg, WV affecting 167 jobs (April 2017) |
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Local 3 goes on strike leading to a mass exodus of Altice technicians to immediately cross picket lines @ Spectrum. (effectively giving Spectrum maximum leverage against the union) (April 2017 till present) |
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Altice & Spectrum are represented by the same union-busting law firm (KM&M) |
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Altice lay off RCC department (Altice denied that they were customer facing employees even though there was evidence that said otherwise) (June 2017) |
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Altice eliminates all AUSA tech positions... they were forced into taking severance package or relocate to undesirable/onerous depot location. [Constructive Dismissal] (June 2017) |
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Altice closes Suddenlink call center in Lake Havasu, AZ (Sept. 2017) |
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Altice eliminates NJ ROC dept. (Dec. 2017) |
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Altice implements new paid time off policy in which total sick time is reduced to 56 hours, down from 80 AND all employees forfeit unused paid sick time at the end of the year. (Jan 2018) |
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Cablevision has been found guilty of unfair labor practices on multiple occassions over that past several years. |
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{{Expand French|Altice|date=January 2018}} |
{{Expand French|Altice|date=January 2018}} |
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{{Infobox company |
{{Infobox company |
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Revision as of 15:13, 20 May 2018
THE ALTICE TIMELINE
Altice pledges to cut $900 million out of Cablevision (Sept. 2015)
“I don’t like to pay salaries...I pay as little as I can.” Patrick Drahi (Sept. 2015)
"There are more than 300 people at Cablevision earning more than $300,000...... this we will change" Dexter Goei (Sept. 2015)
Some critics have said that the only way to achieve its cost cutting goal is to decimate customer service. Goei said that couldn’t be further from the truth: “Why would we ever do that? Why would we ever make our customers unhappy that they would want to churn and go somewhere else? That’s not what we’re talking about. This is not about doing large cuts in the workforce.” (June 2016)
Altice closes Suddenlink call center in Greenville, NC affecting 81 employees (July 2016)
Altice shut down Shelton call center and Stratford facility eliminating 600 employees. (Aug. 2016)
Altice closes Peekskill and Stamford warehouses, Logistics dept. eliminated (Sept. 2016)
Altice lay off in-house Security team (Oct. 2016)
Altice offers Voluntary Separation Package exclusively to field technicians (initially) (Oct. 2016)
Altice informs employees via email that they will no longer receive Holiday Bonus (referring to it as a “highly unique practice”) (Dec 2016)
Altice creates alter-ego company and coerce 90% of technicians to resign from their position with Altice and rehire them as day one federal contractors. (Dec. 2016)
Altice offers Voluntary Retirement Package to all employees that qualify (70-year rule) (Jan 2017)
Altice shuts down Bethpage warehouse eliminating 98 workers (March 2017)
Altice lays off Facilities dept. (outsourced to Cushman & Wakefield (April 2017)
Altice lays off Fleet dept. (April 2017)
Altice closes Suddenlink call center in Parkersburg, WV affecting 167 jobs (April 2017)
Local 3 goes on strike leading to a mass exodus of Altice technicians to immediately cross picket lines @ Spectrum. (effectively giving Spectrum maximum leverage against the union) (April 2017 till present)
Altice & Spectrum are represented by the same union-busting law firm (KM&M)
Altice lay off RCC department (Altice denied that they were customer facing employees even though there was evidence that said otherwise) (June 2017)
Altice eliminates all AUSA tech positions... they were forced into taking severance package or relocate to undesirable/onerous depot location. [Constructive Dismissal] (June 2017)
Altice closes Suddenlink call center in Lake Havasu, AZ (Sept. 2017)
Altice eliminates NJ ROC dept. (Dec. 2017)
Altice implements new paid time off policy in which total sick time is reduced to 56 hours, down from 80 AND all employees forfeit unused paid sick time at the end of the year. (Jan 2018)
Cablevision has been found guilty of unfair labor practices on multiple occassions over that past several years.
{Use dmy dates|date=April 2017}}
 | You can help expand this article with text translated from the corresponding article in French. (January 2018) Click [show] for important translation instructions.
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| Company type | Public |
|---|---|
| Euronext: ATC | |
| Industry | Telecommunications Mass media |
| Founded | 2001 |
| Headquarters | |
Area served | Worldwide |
Key people | Patrick Drahi (Chairman) Dexter Goei (CEO) |
| Owner | Patrick Drahi (Controlling Shareholder) |
| Subsidiaries | Altice USA (70.3% equity; 98.3% voting rights) Altice Dominicana S.A. Portugal Telecom SFR Hot |
| Website | www |
Altice is a Netherlands-based[1] multinational telecoms company, founded and headed by the Moroccan-born Israeli billionaire Patrick Drahi, and the second largest telecoms company in France, behind Orange.
It has a market capitalisation of €13.7 billion (US$16.29 billion), as of December 2017.[2][3] As of 2016, the company has over 50 million internet, TV, and phone customers in Western Europe, the U.S., Israel, and the Caribbean.[4]
History
Altice bought several telecoms in France from 2002 to 2007, merging them under the brand Numericable.
In November 2013, Orange announced it was selling Orange Dominicana to Altice for $1.4 billion.[5]
In March 2014, it acquired SFR, France's second largest mobile phone and Internet services company, from Vivendi.
In November 2014, France’s competition watchdog approved a deal for Numericable to acquire Virgin Mobile France for €325 million.[6]
In May 2015, Altice acquired a 70% controlling stake in Suddenlink Communications, which valued the seventh-largest US cable company at US$9.1 billion. The other 30% continues to be owned by BC Partners and CPP Investment Board.[7]
In May 2015, Altice was said to be launching a bid for Time Warner Cable, which has a US$45 billion market capitalization, following a failed bid by Comcast.[7] It was instead acquired by Charter Communications.[8]
In June 2015 Altice acquired Portugal Telecom and sold Cabovisão to Apax France.[9]
In June 2015, it was reported that Altice had offered €10 billion for Bouygues Telecom, the third largest telecoms company in France.[10] Bouygues' board refused and as of March 2016, is considering merging with Orange.[11]
On 17 September 2015, it was announced that Altice would acquire Cablevision, a Long Island, New York based cable provider, for US$17.7 billion, including debt.[8][12]
In October 2015, it was announced that backing the Altice purchase of Cablevision, were private equity firm BC Partners and CPPIB.[13]
In December 2016, Altice announced its deal to sell SFR Belux to Telenet for €400 million.[14]
In March 2017, Altice acquired video ad tech firm Teads for US$307 million.[15]
In May 2017, Altice unveiled a new logo and slogan, "Together Has No Limits", and announced that it would unify all of its telecom holdings under the singular Altice brand by mid-2018.[16][17]
In 2017, Altice acquired the Israeli telecommunications company Hot.
References
- ^ "Altice N.V. announces the completion of the cross-border merger" (PDF). Altice (Press release). 10 August 2015. Retrieved 15 August 2015.
- ^ Laurent, Lionel (5 December 2017). "Cable Billionaire Stays In His $59 Billion Comfort Zone". Bloomberg. Retrieved 21 December 2017.
{{cite news}}: Cite has empty unknown parameter:|dead-url=(help) - ^ "Altice shares drop down to new lows". Reuters. 30 November 2017. Retrieved 21 December 2017.
{{cite news}}: Cite has empty unknown parameter:|dead-url=(help) - ^ Lieberman, David (22 June 2017). "Altice USA Shares Rise As It Goes Public On Anniversary Of Cablevision Deal".
- ^ "Orange reached an agreement with Altice for the disposal of Orange Dominicana". orange.com. Retrieved 10 September 2016.
- ^ "French regulator approves Numericable-Virgin deal" (Press release). Reuters. 27 November 2014.
- ^ a b Smith, Gerry (20 May 2015). "Time Warner Cable Said to Get Takeover Approach From Altice". Bloomberg. Retrieved 21 May 2015.
- ^ a b "Altice to Buy Cablevision for $10 Billion". Wall Street Journal. 17 September 2015. Retrieved 17 September 2015.
- ^ "Altice finalises acquisition of Portugal Telecom". Agence France-Presse and Business Insider. 2 June 2015. Retrieved 1 August 2015.
- ^ Davidson, Lauren (21 June 2015). "Patrick Drahi eyes Bouygues Telecom for French merger". Daily Telegraph. Retrieved 22 June 2015.
- ^ "March is 'go or no go' for Bouygues merger decision: Orange". cnbc.com. Retrieved 10 September 2016.
- ^ Ackman, Dan (17 September 2015). "European cable firm Altice to buy Cablevision for $17.7 billion". CNET. Retrieved 7 October 2015.
- ^ "CPPIB and BC Partners Back Altice's Bid for Cablevision". Sovereign Wealth Fund Institute. 28 October 2015. Retrieved 30 October 2015.
- ^ "Altice to sell SFR BeLux to Telenet for 400 million euros" (Press release). Reuters. 22 December 2016.
- ^ "Video ad tech firm Teads to be acquired by Dutch telco Altice for $307 million". Business Insider. Retrieved 21 March 2017.
- ^ "Altice Unveils Unified Global Brand, Strategy". The Hollywood Reporter. Retrieved 2017-11-11.
- ^ "Altice Unveils New Global Brand, Logo". Multichannel News. Retrieved 2017-11-11.
