Cell C turnaround strategy
Cell C Reports R5.5 Billion Loss
Image sourced from Town Press Cell C has reported a loss of R5.5 billion after tax following the announcement of its annual financial performance for the 12 months ending December 2020. The telco revealed that total revenue was down by 8% to R13.8-billion (2019: R15.1-billion), with the largest part of the revenue contribution from its prepaid base at R6.2-billion (2019: R6.9-billion). CFO of Cell C, Zaf Mahomed believes that even though the telco made a full-year loss, the latter six months of 2020 was encouraging as it had shown a R2.1 billion profit in the second half. Mahomed says “our results reflect a business in transition. We are starting to see the impact of our changes which included a focus on more profitable subscribers and through the reduction in costs a shift to revenue-gene...
Cell C to Cut Over 900 Jobs, Almost 40% of its Workforce
Image sourced from Town Press South African network provider, Cell C has confirmed that it could retrench up to 960 employees – including junior management and semi-skilled staff – resulting in cuts of almost 40% of its workforce. “Cell C can confirm that it is has reached a difficult decision and initiated discussions with junior management and semi-skilled staff to implement a restructuring of its operations so as to align the organisation with its new operating model,” says a Cell C spokesperson. “Earlier this year, senior management positions were aligned to this revised operating model and new organisational structure. This process was completed in May and resulted in 30 positions being affected,” she said. Cell C began reevaluating its workforce in March 2020 and was said to be looki...
