December 05, 2022
What Do The Executive Changes At Vodafone & Verizon Mean For The Global Telcom Industry As A Whole?
Today was not a good day to be a Vodafone or Verizon executive leader (see source article below).
Major shakeups are afoot at these Telecom operators and it is true for what is happening globally.
Long story short : Status quo approaches no longer work in an environment of :
1) Ridiculously high Corporate Debt levels (anyone looked at a Telecom Operator Balance Sheet lately?)
2) A rising interest rate environment
3) Rapidly increasing smartphone costs
4) Rising labour & supply chain costs
5) Very high consumer debt levels
Telecom Operators globally have put prices up by 10% over the last 12 months and we anticipate that more price hikes are coming.
Smartphone sales which have been driving the growth of Telecom Operator P&L are going to slow precipitously as device life cycles extend.
So what is a Telco to do?
Not more of the same...
Has anyone looked at what has happened to Telco B2B as a result of doing "more of the same" and "status quo"?
Telco B2B revenues are plummeting (and will continue to do so) and the size of the B2B organization is a fraction of what it was in 2018.
The beginning of the end of B2B started in 2019 at Telco with massive layoffs in B2B at every Telco in the world...
We believe that B2B at Telco will be 30% of their 2018 headcount levels due to changes that Telecom Operators have failed to understand.
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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- Protects companies against class action lawsuits by their employees for failure to reimburse or adequately reimburse
- Keeps employees reimbursed & happy in a tax efficient lower cost way than a stipend or company provided phone
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Tax Deduction Changes For Australian Gig Workers : https://lnkd.in/geT95ZTM
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Smartphone global tax trends : https://lnkd.in/dbvArumk
ARTICLE SOURCE : Verizon Executive Leadership Changes :
https://www.mobileworldlive.com/featured-content/home-banner/verizon-consumer-group-head-departs/
ARTICLE SOURCE : Vodafone CEO Departure :
https://www.mobileworldlive.com/featured-content/home-banner/vodafone-chief-read-set-for-exit-cfo-to-take-interim-role/