April 29, 2024
SingTel Joins AT&T and Verizon With B2B Write-Offs
We predicted all of these developments years ago and a few Presidents of B2B have reflected on strategy documents that we put forward to them as to what would happen to their B2B businesses as "prescient."
We don't want to be correct in our assessment because it means more chaos for Telecom/CableCom.
The cold hard reality is that many Telco's do NOT understand that there is a direct correlation between employees in an office Monday to Friday 9am to 5pm and their B2B revenue.
The pandemic was a watershed moment in history and the nature, location, and tools of work forever changed as a result.
In any economic scenario the amount of commercial real estate utilized is going to fall.
Verizon and AT&T announced B2B write-offs earlier in 2024 and now SingTel has done the same.
The only path forward is innovation and doing things differently and launching "new to the world" services rather than products and services that are "new" to the Telecom Operator but that their customers have been already using for 10 years... 20 years... 30 years (yes that is correct).
Partnering with mobilityView Inc. is a good step on that innovation journey & we suspect executives at all levels in Telecom Operators are being told by their CEO - "Show me what you are doing differently"
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- Keeps employees reimbursed & happy in a tax efficient lower cost way than a stipend or company provided phone
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ARTICLE SOURCE : https://www.mobileworldlive.com/singtel/singtel-warns-of-2-3b-impairment/