Stream and eTelecare combines
August 15, 2009 4 comments Business
Minding other business is THE business.
Two of the major players in the global callcenter industry tied the knots for survival. Survival? Yes, survival because I work for one and I have to bang heads with the other in doing technical support for the same client – who makes computers who wants to cut down on their expenses. Will it be a happy ever after for competitors? Could be! Remains to be seen.
News says Stream Global Services, Inc. and eTelecare Global Solutions have combined in a stock-for-stock transaction. That’s a penny for a penny. Nothing less, nothing more. Equal.
The question is who’s got more?
Well, I can’t tell you about that but Scott Murray, Chairman and CEO of Stream, will lead the combined company. Some significant fact their that’s not really hard to ponder. 
Press release after the jump, business people!
Press Release
- http://www.stream.com/company/news.asp#081409
- http://www.etelecare.com/index.php/aboutus/pressreleases/article5
mdk on 
fely Acuña on 
Beejing commented on August 24, 2009 @ 4:10 AM
looks like eTelecare is growing! Cheers sa mga taga-Etel!
.-= Beejing´s last blog ..AttitudeProblem.org =-.
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unknown commented on January 12, 2010 @ 4:53 AM
BPO/KPO Services Comment |
Stream Global Services: Too many well paid Agents?
By Juan Dela Cruz
A few months after taking over call center operations of the well-known Etelecare Global Solutions, Stream Global Services is still figuring out their way around a complicated situation they have gotten themselves in. Particularly, what do with original Etelecare employees that are getting paid like managers?
In the most widely publicized outsourcing company take over of 2009, Stream Global “merged’ with Etelecare Global Solutions via a stock-for-stock agreement while the former became the surviving entity as it controls 57.5 of company stake. Now that it controls the direction of several Etelecare offices in the Philippines including its employees, they have been itching to cut operational costs particularly the “excess baggage’ Etelecare had been carrying through the years which are their senior agents.
My sources inside Stream HR tells me Etelecare had maintained over a hundred senior agents with the level of TSR2 and TSR3 over the years and dozens of employees who have admirably reached the TSR4 and TSR5 level. A tech support representative (TSR) number level represents a sort of salary grade a tech has reached by a combination of tenure and merit earned inside Etelecare. A TSR2 is earning at least 21,000 pesos a month which is the same in Indian Rupees. A TSR3 can earn between 24,500 to 27,000. A TSR4 earns over 30,000 and the highest level of TSR5 agent level nets over 35,000 monthly. A regular tech support rep in the Philippines earns between 18,000-20,000 pesos. These Etelecare TSR salaries are way beyond industry standards in the country and definite pressing issue to be addressed as per management.
The same Stream HR source tells me that they are now in the process of “streamlining” their ranks by offering 2 choices to these employees who are somewhat considered “excess baggage.” The first choice for those who have ranks between TSR2 to TSR5 is to give up their regular statuses, sign a new probationary contract with a significantly lower salary PLUS a cash package of 60,000 pesos. The second choice is to pack their bags, get laid-off, and receive their separation pay depending on their tenure PLUS 120,000 pesos.
My other sources inside Stream Global who came from Etelecare aren’t too happy about this development. They are already getting at least 21K monthly. However, they say that the hardest hit by this company directive would be those who are already TSRs 4-5 because it seems they face a lose-lose situation. Should they accept a new contract with lower salary, they are set to lose almost half of their salary and only with a paltry sum as consolation. Opting to leave isn’t much to be liked either because the cash offer of 120,000 pesos isn’t too desirable as they are already receiving at least 30K monthly. Some figure and realize they could earn that 120,000 cash offer in as little as 4 months.
Nevertheless, each has a different take on this new development. My contacts in Stream say they will be taking this offer as soon as it is made to them. However, they also say that they have friends who are in a really bad spot because of this Stream company initiative
(Email me news and tips at 1delacruise at gmail dot com)
(1/5/2010)
Comments
blizz at 1/7/2010 6:11:27 AM
So True!
sparky at 1/8/2010 5:58:18 PM
I hope this plan pushes thru coz when it does ill take the money and get out of this stuck up company… stream sucks big time…
streamsucks at 1/9/2010 1:18:21 AM
Stream is not the only BPO company in the world. Treating everyone like slaves. Why stay?
John Doe at 1/9/2010 9:18:47 AM
This is great news for me! Any idea on when will this happen?
John Doe at 1/9/2010 9:19:04 AM
This is great news for me! Any idea on when will this happen?
Dell Tech Cebu PH at 1/9/2010 6:13:32 PM
Stream is really a sucked up company, afraid to be beaten up by eTelecare the reason why they purchased the company, sucks, we were better off without STREAM, before, we could out do the minimum requirements for metrics and succeed with flying colors, now? working here while having our pays deducted and giving us Accounting tricks and gimmicks, is Hell. Sure beats having to work with other BPOs coz Stream thinks that they can survive w/o employees.. Demanding tyrants.
teesartri at 1/10/2010 10:58:37 AM
i’ll take the 120K. where do i sign up? when will i get it?
Wrong Road at 1/10/2010 2:50:36 PM
Number 1 target – Clark site! Alot of Tenured TSRs
boy hapahapa at 1/10/2010 8:05:23 PM
The second choice is to pack their bags, get laid-off, and receive their separation pay depending on their tenure PLUS 120,000 pesos…. dats a lot! woooo the only reason y im still staying.. give me my separation pay!
anopakimo at 1/10/2010 8:23:46 PM
yeah, stream sucks very big time. im seeing a sinking ship here. kumukuha lang ng magandang opportunity mga employees mga friends. in due time, tignan nyo nalang…
streammagicsing at 1/10/2010 8:37:10 PM
Stream is a stupid company..Only thinks of profit and never cares for the employees..hope this will push through
jhajha at 1/10/2010 11:45:35 PM
…so sad etelecare really was a great company before it merged with no-good Stream…. they do not value their employees,…piece of crap!
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Nick Nichelle Dael replied on January 22, 2010 @ 11:15 AM
Wow! Copy and paste!
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