TTEC Provides Financial Outlook Update Due to Impact of COVID-19
Withdraws guidance for 2020 due to increased uncertainty related to impact of COVID-19
Maintains a strong liquidity position and healthy balance sheet
TTEC's priority is the health and safety of its employees, clients' service, and support of communities where it operates during these rapidly changing and unprecedented times. TTEC began preparing for the potential consequences of coronavirus/COVID-19 outbreak over two months ago. The company continues to serve its clients' evolving needs through proactively leveraging its global contact center technology infrastructure and ensuring that its employees and clients have the access, tools, and technology they require to continue working safely and efficiently.
The company's approach to @home work and business continuity support has been built over many decades, and includes helping clients establish and execute contingency plans across their operations with rapid deployment of scaled @home resources, on-demand remote capacity, and virtual technology solutions that help reduce risk and provide frontline assistance during this crisis.
Recent government-imposed restrictions around the world have significantly impacted businesses and their workforces. Certain TTEC operating centers have been affected by local lockdowns and restrictions on facilities access. Others may be impacted as the coronavirus/COVID-19 spreads. Given the overall uncertainty and fluidity of the current global pandemic response, coupled with how various government-imposed limitations may translate into client service delivery constraints, TTEC is withdrawing the guidance provided on
TTEC continues to maintain a strong liquidity position and healthy balance sheet.
This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of TTEC Holding, Inc.'s management and are subject to significant risks and uncertainties. Specifically, we would like for you to focus on risks related to our strategy execution, our ability to innovate and introduce technologies that are sufficiently disruptive to allow us to maintain and grow our market share, cybersecurity risk and risks inherent to our equity structure. Actual results may differ from what is expressed in the forward-looking statements. Risk Factors that could cause TTEC's results to differ materially from those described in the forward-looking statements can be found in TTEC's Annual Report on Form 10-K for the year ended
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