TeleTech Reports Q1 Income, Layoffs

Share this content:
Teleservices firm TeleTech Holdings reported a net income of $8.4 million during the first quarter and said it had initiated a cost-cutting program that included the layoff of 300 employees.

The cost-cutting measures also included the shutdown of an underused call center, the location of which was undisclosed, the company said in its financial statement, which was released after the market closed Thursday.

As a result of the cost-cutting efforts, TeleTech incurred a one-time charge of $20.3 million, resulting in an overall loss of $3.9 million for the first quarter.

The Denver company said the cost-cutting measures were enacted to address the current economic environment and to ensure long-term profitability for TeleTech. The company predicted $225 million to $230 million in revenue for the second quarter, compared with $237.9 million in the first quarter.

TeleTech operates 43 contact centers worldwide, including 26 centers outside the United States. The company has 23,000 employees.

Loading links....

Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here