TechCentral reports that Strive Masiyiwa ‘s Liquid Telecoms has started the process of retrenching employees.
The section 189 retrenchment process will result in a big number of staff losing their jobs as the fibre business is beginning to struggle. This process is expected to take 60 days.
Acting CEO, Craig Van Rooyen told TechCentral that Liquid Telecoms Will be renamed to Liquid Intelligent Solutions and this name change will be complete by October, to reflect the new strategy.
Liquid Telecoms has been hit hard by the coronavirus pandemic and its heavy reliance on big government customers that are also struggling, such as SAA and Eskom.
Liquid Telecoms is now in the process of redesigning their business model to focus more on recurring revenue and digital products.
Currently, Liquid Telecoms has a product mix of 60% digital products to 40% Telecoms products, coming from 80% telecoms products to 20% digital products.