(Boursier.com) — Teleperformance has asked Euronext to resume trading of its shares at the opening this morning on the regulated market of Euronext Paris. Recall that its share price was suspended late yesterday morning following a plunge of nearly 34% caused by an article in Time. The group’s management had then requested “a brief suspension of the listing of its title” following the sales movement caused by the announcement made “in certain media” by the Colombian deputy labor minister of his decision to open a survey of the work environment in its Colombian subsidiary.
To date, the group says it has received “no official notification from the Colombian government”. Teleperformance says it is “confident in the results of such a check, the management team of the subsidiary in Colombia having always developed the company in compliance with the law”. In addition, “because of the situation created, the group considers that the Teleperformance share constitutes an appropriate allocation of its cash within the framework of the law”. Consequently, Teleperformance has decided to allocate an initial amount of 150 million euros to a share buyback program within the framework of the authorization given by the general meeting of shareholders of April 14, 2022.
Teleperformance had collapsed by 33.9% to 175.95 euros yesterday morning, while according to ‘Time’, the TikTok subcontractor in Colombia would be the subject of an investigation for “traumatic work” … The Colombian Ministry of Labor is said to have launched an investigation into Teleperformance regarding allegations of violation of trade union rights, traumatic working conditions and low wages. Teleperformance reportedly employed TikTok content moderators who earned just $10 a day, according to Time. “Workers were routinely required to view videos showing murder, child abuse and sexual violence as part of their jobs. Attempts by workers to unionize were met with intimidation and threats,” again says Time.
“We have officially decided to open an investigation into Teleperformance,” tweeted Edwin Palma Egea, deputy minister of social relations in the Colombian government. “We have informed the company and invite all workers and trade unions in the country to provide us with evidence of alleged violations of labor standards”. “Countless complaints have reached us by all means with evidence that we will systematize, integrate into the investigation and transfer to the company to ensure due process,” the manager also tweeted.
De oficio hemos decided to initiate an investigation against @Teleperformance. Les hemos notified a la empresa e invitamos a todos/as los trabajadores/as y a las trade union organizations of the country a que nos alleguen las pruebas sobre presuntas violaciones a las labor norms. pic.twitter.com/WPTRskH2uV
— Edwin Palma Egea (@PalmaEdwin), through Twitter
The investigation follows revelations from US magazine Time and the Bureau of Investigative Journalism last month of alleged trade union rights violations, traumatic working conditions and low pay for content moderators on the social network TikTok.
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