Category: bpo

Aegis sells BPO business in PH to Telepeformance

Ronnie Bulaong Leave a comment

Rumors have going on since last month that Essar Global Fund LTD., the firm that acquired AGC Holdings LTD (Aegis) back in 2004, was negotiating with several companies about possibly selling some of its BPO operations. Recently, all these speculations have been laid to rest as Teleperformance agreed to acquire Aegis’ businesses in Costa Rica, Philippines and United States for USD410 million.

In a statement, Teleperformance CEO Daniel Julien expressed his excitement over the recent acquisition adding that “this will be a historic transaction for the Teleperformance shareholders as this acquisition fits perfectly with our long-term strategy.”


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Julien has all the reason to be ecstatic about the deal because Aegis USA Inc. (AUI) will further strengthen the company’s presence in the US both in healthcare and financial services, as well as in the fields of travel and hospitality.

Furthermore, the acquisition represents USD400 million of annual revenue, not to mention adding 19,000 FTEs across 16 call centers in the US, Costa Rica and Philippines under TP”s belt.

“We look forward to partnering with our new clients upon the closing of the transaction. We want to ensure them that the entire consolidated team is committed to serving them with dedication, professionalism and passion,”

- Daniel Julien, Executive Chairman and CEO of Teleperformance Group Inc.

As for Essar Group’s part, Uday Gujadhur, board member of Essar Capital Limited and fund manager for Essar Global Fund Limited, said that the deal is win-win for both companies and that “this transaction will also yield many synergies and benefits for Aegis’ employees and esteemed customers.”

He also mentioned that the firm is looking forward to grow Aegis’ remaining BPO operations in other countries after the acquisition which is expected to be finalized on the third quarter of the year.

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Solon seeks to increase Night Differential of BPO employees to 25%

Ronnie Bulaong Leave a comment

Congressman Zajid Mangudadatu, the current Representative of the 2nd District of Maguindanao and former Mayor of the town of Pandag, has recently filed the House Bill 4414 which aims to increase the current night shift differential pay of BPO employees from 10% to 25%.

As mandated by the Department of Labor and Employment under Article 86 of the Philippine Labor Code, “every employee shall be paid a night shift differential of not less than ten percent (10%) of his regular wage for each hour of work performed between 10PM and 6AM”.

However, Congressman Mangudadatu believes that the 10-percent increase in pay is not enough to compensate for the amount of stress that BPO employees undergo on a regular basis, not to mention the health hazard that they are exposed to by working in night shifts.

“BPO employees are often exposed to stress because they take calls of agitated or angry customers. They likewise make calls to customers of their companies for purposes of addressing concerns, making sales or other matters that require a lot of activity, resulting in undue stress. In addition, most BPOs operate during the night and this adds to the employees’ exposure to health hazard,”

Cong. Zajid Mangudadatu, 2nd District of Maguindanao

The solon also stated that the proposed additional night differential pay should not affect any additional benefits, both monetary and non-monetary, that a BPO employee is getting from their current company.

If passed, the House Bill 4414 will not only increase the graveyard shift pay by 15%, it will also penalize BPO companies who will not comply to it. This involves a fine of not less than Php250,000 and a suspension of their business permit for not less than 30 days.

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Convergys to buy Stream Global Services for Php36B

Ronnie Bulaong Leave a comment

A momentary break from all the CES craze. Convergys Corporation and Stream Global Services, two of the country’s leading BPO companies, stated that they will enter a definitive merger agreement under which Convergys will pay its private equity owners a sum of USD820M to acquire Stream.

Through this acquisition, Convergys is looking to expand its reach by adding Stream’s client base which includes tech companies like Dell Inc., Hewlett-Packard, Microsoft and Western Digital.

convergys stream global services

The Cincinnati-based company is expecting a $0.35 increase in earnings-per-share in the first 12 months after inking the deal. Convergys is also looking at an estimated shared revenue exceeding USD3 billion once it’s all said and done.

The news the about definitive merger agreement between Convergys and Stream caused an upsurge on the former’s shares by almost 20% and closed at USD20.86 after the bell rang on Monday at the NYSE.

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The post Convergys to buy Stream Global Services for Php36B appeared first on YugaTech | Philippines, Tech News & Reviews.

Convergys to buy Stream Global Services for Php36B

Ronnie Bulaong Leave a comment

A momentary break from all the CES craze. Convergys Corporation and Stream Global Services, two of the country’s leading BPO companies, stated that they will enter a definitive merger agreement under which Convergys will pay its private equity owners a sum of USD820M to acquire Stream.

Through this acquisition, Convergys is looking to expand its reach by adding Stream’s client base which includes tech companies like Dell Inc., Hewlett-Packard, Microsoft and Western Digital.

convergys stream global services

The Cincinnati-based company is expecting a $0.35 increase in earnings-per-share in the first 12 months after inking the deal. Convergys is also looking at an estimated shared revenue exceeding USD3 billion once it’s all said and done.

The news the about definitive merger agreement between Convergys and Stream caused an upsurge on the former’s shares by almost 20% and closed at USD20.86 after the bell rang on Monday at the NYSE.

{Source}

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Kabataan files House Bill 1180 “Call Center Bill” the 3rd time

Ronnie Bulaong Leave a comment

Representative Terry Ridon of Kabataan Party list is hoping that third time’s the charm as he re-filed the House Bill 1180 or the BPO Workers’ Welfare and Protection Act of 2013 on Wednesday July 10.

BPO

The said bill was first filed on the 14th Congress by former Kabataan party list Representative Raymond Palatino. After his first failed attempt, Mr. Palatino re-files it in 15th Congress but failed to even get passed the committee level. Now it’s up to current Representative Ridon to continue the fight.

“As we file this bill for the third time, we are confident that it will muster the support, not only of the agents but of call center owners and managements as well. There is no reason for owners and managers to oppose this measure. Improving the agents’ welfare will also mean greater productivity and lower workforce attrition rate for them,”

For the benefit of those who are just reading about this bill for the first time, the House Bill 1180 “seeks to promote and protect the rights of Filipinos working in Business Process Outsourcing (BPO) companies across the country.” Below are the key proponents of the bill:

• Regularization of all BPO workers upon the sixth month of employment as trainee or apprentice, or upon the completion of a maximum probationary training period of six months.
• Standardized restroom breaks not shorter than five minutes each, with intervals of two hours during their working hours.
• Entitlement to medical benefits upon entry in the BPO company and not merely upon regularization.
• Right to Self-Association, to engage in Collective Bargaining, and to participate in Democratic Exercises

With more than 770,000 (and still growing) BPO workers all over the country, it’s only logical for government officials to pass/implement laws that would improve the quality of work environment for call center employees. However, I can’t say that I totally agree with some the key provisions of this bill which I’ll explain in a separate article.

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