RompelStompel
Senior Member
http://www.fin24.co.za/articles/default/display_article.aspx?Nav=ns&ArticleID=1518-24_2097888
Johannesburg - Though Cell C management continues to downplay talk of a crisis, the enforced departure of high-profile staff reinforces mounting speculation that the cellular operator is in on the brink of financial meltdown.
With more job cuts affecting senior management reported to be on the cards, the cellular operator is said to have already shed nearly 5% of its 2 500 workforce.
Jim Courtney, who until last week had been the group's chief commercial affairs executive abruptly and communications manager Vanashree Pillay have become the latest casualties of the company's restructuring exercise.
While Courtney could not be reached for comment, Pillay confirmed that she had left the company but denied that she was shoved out of her Job.
Ironically when Fin 24's sister publication Finweek ran the story on the cellular operators reported woes, Pillay dismissed outright suggestions that high-profile job cuts were on the cards at the cellular operator.
"Although I'm not prepared to give reasons for my departure, it's not true that I was pushed out of my job; I discussed my reasons with management."
Cell C's newly appointed chief corporate affairs officer, Zeona Motshabi, could not be contacted for comment but a source at the cellular operator confirmed that plans to radically overhaul the company's communications and marketing departments also form part of new CE Jeffrey Hedberg's turn around strategy.
"More senior staff from the marketing and communications department are soon set to follow Pillay and Courtney," says the source.
Since launching nearly five years ago, Cell C is still battling to ring up its first hard-core profit - a development that recently prompted rating agencies, S&P and Moody's, to downgrade its high-yield bonds.
A joint venture (JV) signed last year with the Richard Branson-owned Virgin Mobile - Britain's largest mobile virtual network operator - to prop up Cell C's subscriber recruitment campaign has yet to positively impact on the operator.
Mobile number portability (MNP) - whose introduction Cell C vocally championed - has turned out to its Achilles' heel.
Irked by the cellular operators inability to offer them cutting-edge data services such as 3G and even quicker HSDPA, a significant number of post-paid users (who constitute 20% of the group's overall 2.7m) have reportedly ported out of Cell C and defected to competing networks MTN and Vodacom.
Both Vodacom and MTN claim to have gained the most of the numbers ported so far. Following the enforced departure of former CE Taalat Laham who was seconded to Cell C by the cellular firm's parent company, the Saudi Oger Group, word on the ground is that the Saudi Oger Group is considering divesting its stake in the cellular firm.
Johannesburg - Though Cell C management continues to downplay talk of a crisis, the enforced departure of high-profile staff reinforces mounting speculation that the cellular operator is in on the brink of financial meltdown.
With more job cuts affecting senior management reported to be on the cards, the cellular operator is said to have already shed nearly 5% of its 2 500 workforce.
Jim Courtney, who until last week had been the group's chief commercial affairs executive abruptly and communications manager Vanashree Pillay have become the latest casualties of the company's restructuring exercise.
While Courtney could not be reached for comment, Pillay confirmed that she had left the company but denied that she was shoved out of her Job.
Ironically when Fin 24's sister publication Finweek ran the story on the cellular operators reported woes, Pillay dismissed outright suggestions that high-profile job cuts were on the cards at the cellular operator.
"Although I'm not prepared to give reasons for my departure, it's not true that I was pushed out of my job; I discussed my reasons with management."
Cell C's newly appointed chief corporate affairs officer, Zeona Motshabi, could not be contacted for comment but a source at the cellular operator confirmed that plans to radically overhaul the company's communications and marketing departments also form part of new CE Jeffrey Hedberg's turn around strategy.
"More senior staff from the marketing and communications department are soon set to follow Pillay and Courtney," says the source.
Since launching nearly five years ago, Cell C is still battling to ring up its first hard-core profit - a development that recently prompted rating agencies, S&P and Moody's, to downgrade its high-yield bonds.
A joint venture (JV) signed last year with the Richard Branson-owned Virgin Mobile - Britain's largest mobile virtual network operator - to prop up Cell C's subscriber recruitment campaign has yet to positively impact on the operator.
Mobile number portability (MNP) - whose introduction Cell C vocally championed - has turned out to its Achilles' heel.
Irked by the cellular operators inability to offer them cutting-edge data services such as 3G and even quicker HSDPA, a significant number of post-paid users (who constitute 20% of the group's overall 2.7m) have reportedly ported out of Cell C and defected to competing networks MTN and Vodacom.
Both Vodacom and MTN claim to have gained the most of the numbers ported so far. Following the enforced departure of former CE Taalat Laham who was seconded to Cell C by the cellular firm's parent company, the Saudi Oger Group, word on the ground is that the Saudi Oger Group is considering divesting its stake in the cellular firm.
True!