BTC adjusting operating model in light of significant revenue loss
Bahamas Telecommunications Company (BTC) Chief Executive Officer Garfield Sinclair said yesterday the company intends to adjust its operating model in light of a significant loss in revenue.
“We have to obviously adjust our operating model. We used to be at $330 million in revenue. That’s down to $220 million to $225 million that we do today. So, you lose $100 million worth of revenue you have to adjust the operating model,” he said on the sidelines of the public school administrators conclave at the Baha Mar Convention Centre on Monday.
Despite these challenges, Sinclair expressed optimism about the company’s growth.
“Those adjustments are tough but we’re going through them and I think we’re in a much better place than we were several weeks ago. And if the July results are anything to speak of, it’s clear that we’re turning the corner with respect to the attrition of subscribers and actually starting to grow this business again,” Sinclair said.
“So, I’m really encouraged, nothing is dependent on the VSEPs (voluntary separation packages) at all, but we have to keep doing our best of everything within our power to optimize this model that we’re going to use to compete in the 21st century.”
Last week, BTC announced it would start its latest VSEP program.