Read call center news today and it seems that a major Philippine investment holdings company is planning to buy a majority stake of PeopleSupport Inc. Could it be that PeopleSupport is in over its head in debt? A result of mismanagement?
PeopleSupport is one of the pioneers of the call center industry in the Philippines and a NASDAQ-listed company with majority of its operations in the Philippines. Growth, it seems like, could be manifested with its expansion to the provinces and a not-so-spanking new building right in the heart of the Makati Central business district. But could it be too fast an expansion for this admirable BPO? Then why is there a company planning to take over a big chunk and most probably a controlling stake at PS? For those unfamiliar, there wouldn't be any company proposing to buy in another company if the latter did not "broadcast" that it will entertain external investors. This could mean a few things. It may mean that PS is low on capital or trying to cope up with debt or it could be planning more expansions. The odds are, PS is a little tight financial bind. One that normal employees wouldn't notice within their ranks. I do recall reading in a financial magazine early this year that PS was about waist-deep in shit... Oops I mean debt. Only next to Convergys among the top call center companies in the Philippines. Noticeably, these are the top 2 call centers that have been aggressive in expansion over the past couple of years. My hunch that PS and Convergys are cash-strapped was a confirmed when a former employee of mine who worked for a company that gathers confidential data for the call centers confided that these 2 call centers have more debt than earnings. Living beyond their means so to speak.I must confess, I started my call center career with PS many years ago. Needless to say, I wasn't too impressed with what was happening around me at that time. The perfect words to describe my environment in PS are "organized chaos"! I also have very fond memories of PS mostly with friends I made while working there with one highly unlikely I would forget till I die. I also remember eating a packed lunch company giveaway for Christmas while I was in PS. Very generous of PS I should say ( sarcasm )! If your career motivation is money you won't find it in PS.
For all it's worth, I think a change in direction and leaders would be good for PS. They've aggressively expanded in the Philippines but why sell? Makes you think what are the top honchos in PS doing besides sit on their fat asses. In any case, I think the phrase that would best describe PS's situation right now is "... anywhere but here!"
News Source: IPVG bids for top U.S. call center firm - Philippine Star
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8 comments here!:
Oh really?
I never thought that this will happen to PS as i know they are one of the biggest company in the call center industry here in the Philippines.
Well, i once wished to be part of the company but i happened to be working already with Havenlink when they offered me a job.
By the way, can you help me make a resume? he he he..
I really do not know what to put in my objective.
Please... Thanks..
You need to research the financials of this company first. It has about $70M in cash in its books. The company is making money in currency hedging but not in its core bpo business and that is why they are entertaining offers.
To anonymous:
That's exactly what I wanted to get across. :D
It's as if there is something wrong the PSs. PS is not selling out because of debt.
PS is debt-free and the offer to buy a majority stake was unsolicited.
May update na po pala sa deal na ito. Hiniram ko rin po yung picture and added some detail to it on my blog, wag po kayo magagalit ;-)
there's a storm brewing in Georgia.......
totoo naman, walang kwenta dyan sa peoplesupport... teleperformance is the best.
I was looking for a part time job at Job Street and landed at PS's advertisement that would suit my sched. I thought to myself that PS is just near my office so why not try, right? However, seeing the process that I had went through just to take a 30 minute grammar, listening, and typing exam was unbelievable!
Imagine, I was there at about 3PM because someone called me the night before telling me that I could come at that time and will be accommodated immediately. To my utter disappointment, I came at 3PM BUT WAS NOT ACCOMMODATED UNTIL 6PM!! Grrrr... It was just good that I brought a book with me, but had it not been the case, I would have just left after an hour of Painfully Waiting (my butt was in pain! excusemoi? haha- ). The book that I was reading had 255 pages and I had finished reading half of it, seriously.
Then, they sent us away for a 15 minute break. I came back after ten minutes because they said that our results will be ready by then. So, i came back at 6:40PM, right?
At 7:00, 7:15, 7:30. Nobody was giving out any result to any of us. Come 7:45 PM, someone went out and handed papers to those people that I assume have failed (they didn't come back anymore). Come 7:55 PM, someone went out again and handed some papers, by the looks of the papers I oversaw, these papers may have been handed out to the probationary folks. So, okay... I was a bit patient that time cos anyhow, I thought that I have done pretty well on those exams.
So, I waited... And waited... And waited... And waited. 8PM passed by without anything happening.
People were going in and out of the exam room but no one was handing out any result to the 5 of us who were left. There were about 25 of us who took the exam and everyone else left but us.
My folks and my Baby were already waiting for me and I had to go home! But no. It was 8:45 PM AND NO ONE WAS APPROACHING US.
I had no choice but to be assertive enough to approach someone and tell him that I had to go and leave asap cos no one was gonna take care of my Baby.
Do you know what happened next? He asked me had I not received my result yet?! Wow!! Convincing, isn't it?
Gawsh.
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