AllPoints Fibre Networks (APFN) has completed the consolidation of Giganet, Jurassic Fibre, Swish Fibre, the original AllPoints Fibre, and Cuckoo into a single group, with APFN (a wholesale business) and Cuckoo (a retail business) now operating as self-standing companies.
Fri, 27/10/2023 - 12:10
Grain will cut jobs nationwide and slow its network expansion as it looks to raise capital. This was confirmed by the altnet to Cumberland newspaper News and Star.
The paper reports that 20 jobs will be reduced, with less than half of these from its Carlisle headquarters.
This move is part of a wider plan to attract further capital and continue expansion in 2024.
A Grain representative told News and Star: “Raising capital at this time is taking longer than it did a year ago.
"As a result, we have taken the decision to temporarily reduce the level of our network expansion, while we raise further capital to accelerate in 2024.”
With these reductions, Grain will still employ more staff at its headquarters than it did this time last year.
Grain’s spokesperson continues: "The foundations of the business are strong, with a rapidly growing customer base, performing ahead of our business plan, showing there is a strong demand from our customers for our products.
"After this reduction, we still have 48 per cent more employees in Carlisle than we did at this time last year and expect to continue investing in Carlisle over the long term."
