Phoenix restructure sends profits down in flames Phoenix IT Group saw its wings decisively clipped over the last year, as a wide-ranging restructure battered profits and helped knock sales off-course in an already tough market. The services group insisted it was confident it will see revenue growth over the current year, but remained “cautious” about its likely performance …
And the company has instigated yet another round of redundancies, due to a "surplus of capacity" in Field staff. A surplus caused by falling call volumes, caused by ongoing loss of contracts. Phoenix needs to focus on winning new business and, more importantly, retaining existing clients. Rearranging the deck chairs (again!) isn't going to help.
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