Cell C reveals its big turnaround plan

Hanno Labuschagne

MyBroadband
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Cell C reveals its big turnaround plan

Cell C has outlined plans for a turnaround strategy to make the troubled operator viable again.

In a statement released today, the company admitted that it was facing tough challenges as a result of a misguided business strategy, debt brought about by burdening recapitalisation in 2017, poor decision-making, and bad governance.

Cell C CEO Douglas Craigie Stevenson said the strategy is focused on “ensuring operational efficiencies, restructuring our balance sheet, implementing a revised network strategy and improving our overall liquidity”.
 

DragonMolester

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  • Appointment of non-executive, independent directors to the Board to bolster governance, improve diversity and transformation.
  • A hiring freeze.
I love corporations, hiring freeze but lets pay millions to more directors :unsure:
 

gamer16

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  • Appointment of non-executive, independent directors to the Board to bolster governance, improve diversity and transformation.
  • A hiring freeze.
I love corporations, hiring freeze but lets pay millions to more directors :unsure:

Indeed, they can just get executives.
 

Azg

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Massive price hike incoming for all Cell C customers.
 

WireFree

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How the hell will these factors change the company into a profitable enterprise?
Diversity has been shown to improve revenue and profits. Here are some references:
- https://www.forbes.com/sites/annapo...at-diverse-companies-produce-19-more-revenue/
- https://www.forbes.com/sites/karste...at-company-diversity-leads-to-better-profits/
- https://www.weforum.org/agenda/2019/04/business-case-for-diversity-in-the-workplace/

However, a hiring freeze may have the opposite effect in terms of increasing diversity.
 

RandomGeek

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Diversity has been shown to improve revenue and profits. Here are some references:
- https://www.forbes.com/sites/annapo...at-diverse-companies-produce-19-more-revenue/
- https://www.forbes.com/sites/karste...at-company-diversity-leads-to-better-profits/
- https://www.weforum.org/agenda/2019/04/business-case-for-diversity-in-the-workplace/

However, a hiring freeze may have the opposite effect in terms of increasing diversity.
Diversity is good overall and is important in the long run. But that won't fix their short term problems nor bring in the revenue that they require NOW.

It's like their PR/Marketing arm just used a bunch of buzzwords in that statement without thinking it through
 
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