LYCA Mobile UK has told their staff they could be cutting as many as 90% soon. .
According to the Guardian (link below) staff at the Lycamobile’s headquarters in London were told that the company was facing “pretty serious challenges” and was planning to cut up to 316 jobs, leaving as few as 48 in the UK.
Lyca lost £24 million in 2022 ($30,440,000) and is in suit over £51M ($64M) regarding an upaid VAT bill. It was also fined £8.3M ($10.5M) in Paris for money laundering and VAT fraud.
Addressing staff on Friday, the company’s general counsel, David Dobbie, blamed competition, cost inflation, “legacy technology issues” and internal inefficiencies due to overlap between divisions based in the UK and India. He did not mention the company’s tax disputes.
The report ends with a quote from a LYCA spokesperson:
No final decisions have been made on any changes to our model at this time, but we have announced a consultation process regarding strategic changes to align with our long-term growth goals and the challenges facing our business and other telcos, including a focus on digital transformation.
Nothing in the article mentioned any impact to the US operations.
| NWIDA members, contact us today if you need our assistance. If you’re not yet a member, we invite you to join today. |  |
| Announcing
IMEI Reports – Generate a comprehensive device report for any phone. |
 |
| Click to join our the IMEI Reports DISCORD Server |  |
| Click here for news like this delivered to your inbox? |
 |
| Click here for news like this in your RSS feed? |
 |
| Join us on Reddit – |
|
| Subscribe to our YouTube Channel |
 |
| Click to join our DISCORD Server | |
| Join the NWIDA Slack Channel |  |
| Add our Flash Briefing to your Amazon Alexa device |  |
Paid ad:
