Is there any truth to rumors of more cuts this month or in December?
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I heard there were some people cut before Christmas because a major North American customer dropped or didn’t renew their service contracts.
@enmf+1pvrOuPK Amen
MCS is a platter of failed and too late ideas that we burned hundreds of millions on with no plan on who would buy them, why or for how much
Even now its 'rationalised' its still a bloated expensive BU
VN gets one hail mary deal every 3 years and acts like its the hero, every other year it misses its targets by a country mile and burns cash
Only BT is worth anything and thats heading in one direction
It’s just the usual noise. Don’t worry. Everything’s fine.
Still not hearing these rumours on the ground. Anyone heard any more on this?
Pow tay toe Potato
BT can't be sold off! BT is Synamedia!
(well 80% of Synamedia, based on t/o)
Keep hold of BT, sell/mothball the rest to pay debt/reduce cash burn and milk BT until there's nothing left
There's nothing wrong with MCS. It's just that BT/VN doesn't generate enough cash/profit to support it AND pay down the debt.
MCS is a "start-up" trapped in a indebted and terminally declining PE owned "enterprise". In another life MCS would be a standalone business burning through VC money on the 1 in 100 chance it hits it big.
They'll continue to cut costs in BT, and the brain drain will continue in order to fund the bottomless hole that is MCS. It really is unbelievably bad strategy when it's BT (and VN) that are the only things keeping this worthless ship afloat.
Iris has had zero impact, SPD didn't work out, Clarissa isn't making inroads. It would honestly be for the best if BT got sold off.
But but but... our fearless leader P.S. said that there will be no more layoffs and we are looking soooooo strong in FY24!! He even said our refinancing is all but done with a big emphasis on this secret handshake!! He even mentioned that word "handshake" like 42 times during his Oct clown circus show.
Oh no! Anyway...
@OP+1pvrOuPK What have you heard?
If we're struggling to grow t/o (which we are) then a sure fire way to get EBITDA up (to try and get refi through) is to cut cut cut and sell off assets (VN maybe, and non-core assets like patents maybe).