4Com, a Bournemouth-based company focused on telecommunication services, recently announced that their current business review could lead to several redundancies within the company. The comms company currently earns about £40 million in revenue and has more than doubled its workforce during the last few years, yet the latest news suggests that a “small number” of cuts could be in the pipeline.
The news is sure to hit hard for the loyal workers in 4Com, some of which only recently entered the company after it was announced as the “Best Company to Work For” by the Sunday Times a little earlier in the year. Up until now, there’s no solid information on the number of jobs that might be under threat, but some mysterious “unnamed” sources suggest that as many as 50 people could be losing their jobs this year.
The Statements from 4Com
4Com have remained predictably quiet about the whole situation. There’s a good chance the company is still working out exactly what they need to do to remain profitable while avoiding as many job cuts as possible. In a recent statement, the company said that they had entered a “consultation period” where they were evaluating the number of positions in their business.
Apparently, the consultation is the result of a restructuring process that will affect the entire business, and it’s also part of an overall company review designed to ensure that the firm will continue to achieve its goals in the future. Unfortunately, 4Com wasn’t willing to comment on the people that might be involved in the upcoming job cuts.
A Sudden Change for 4Com
The most recent financial report for the company, which covered the year ending on the 30th of June 2016, showed that 4Com had earned a revenue increase of 22%, which took them to £41 million overall. However, operating profits had moved from £1.7 million down to a £421,000 loss. According to the report, those losses came from increased investment into the development of new business solutions, as well as the decision to open a new office in Southampton.
Ultimately, the latest news is quite surprising from an outsider perspective. Not only was 4Com named the best place to work this year, but in 2016, Samsung announced that the company was their biggest global reseller. The business develops its own software and hardware in-house while providing hosted telecoms services to its customers.
