How SFR wants to regain its title as the French people's favorite operator

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Faced with the hemorrhage of two million subscribers in two years and a colossal debt of 24 billion euros, the management of the operator with the red square is launching “Imagine SFR”, a mobilization plan which marks a break with the purely financial strategy of the Drahi years.

On Wednesday, October 16, SFR's Paris offices were the scene of an unusual internal communications operation. A “small red manifesto”, in reference to the operator's emblematic color, was distributed to employees. This four-page document, requested by CEO Mathieu Cocq, symbolises the company's desire for profound transformation.

“To once again become the preferred operator of the French by 2028″, this is the ambition displayed by SFR.An objective that might seem utopian given current indicators. The figures are relentless: only two out of ten customers would recommend SFR services today, while six out of ten would actively advise against them. With a net promoter score of -7, the operator ranks far behind its direct competitors: Bouygues Telecom (+11), Free (+18) and Orange (+28).

This delicate situation is the legacy of a decade marked by the priority given to financial imperatives. Since the acquisition by Patrick Drahi in 2014, the company has halved its workforce, prioritizing short-term profitability to the detriment of customer satisfaction. The arrest in July 2023 of Armando Pereira, a close collaborator of Patrick Drahi, for alleged corruption, only served to accentuate the crisis of confidence.

Imagine SFR: a plan based on 5 pillars

To reverse the trend, management is relying on five fundamental pillars: collaboration, audacity, commitment, excellence and customer obsession. “The last few years at SFR have not always been easy, but red is back”, says Arthur Dreyfuss, CEO of Altice France, in Le Monde. Concrete actions have already been undertaken, including the simplification of offers and the strategic recruitment of experienced executives from the competition.

However, the challenges remain considerable. The colossal debt of €24 billion weighs heavily on the company's investment capacity. The discussions initiated with creditors during the summer have not yet been concluded, as the parties' positions remain very far apart. Of course, the recent sale of BFM-TV to CMA CGM for €1.5 billion offers a breath of fresh air, but it does not resolve the structural problems.

Furthermore, internally, the reception of this transformation plan remains mixed. Employees, especially the most senior ones, are greeting these announcements with understandable skepticism. How can we trust a management team made up in part of the same people who led the company into its current difficulties??

The detailed presentation of the five strategic pillars before the central social and economic committee, scheduled for October 24 and 25, will be decisive. It will have to convince not only employee representatives, but also the markets and customers of the credibility of this recovery plan. And you, do you believe in SFR's return to the top??

• SFR launches “Imagine SFR”, an ambitious transformation plan aimed at once again becoming the preferred operator of the French by 2028
• The company is facing a colossal debt of 24 billion euros and has lost 2 million subscribers in two years
• The success of the plan will depend on management's ability to convince employees and restructure its debt, while significantly improving customer satisfaction

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