The job cuts form part of a restructuring plan dubbed “simplify and amplify”, aimed at streamlining operations and improving efficiency, a press statement issued on Friday explained.

The firm said it planned to close offices in Brussels, central London, Isle of Man, Warsaw and Zurich, redistributing activities from these locations to other offices in Kiev, Stockholm, Stockley Park in London and The Hague, as well as to its headquarters in Luxembourg.

It said the job cuts would be deployed where possible through a voluntary phased retirement programme.

At the same time, it is refocusing its resources in emerging markets such as cloud and mobility.

SES currently employs around 600 people in Luxembourg. It said that negotiations with employee representatives for a social plan were currently underway.

The firm said last week it would invest $1.6bn to free up frequencies more quickly, to ease the financial strain faced as a result of a decline in the video segment, which makes up two thirds of its revenues. It is hoped that data and mobility will compensate for this loss.