Atos records losses while moving 16K of its workforce offshore
IT services provider Atos reported a 0.6% revenue loss in the first half of 2022 amid a costly group transformation that involves employing about 16,000 individuals offshore and a two-way split of the group.
Last month, Atos announced that it would spin out its Digital, Big Data, and Security businesses into a new separate, publicly traded entity called Evidian while the company’s remaining legacy bits — including Data Centre & Hosting, Distal Workplace, Unified Comms, and BPO — will be put into its Tech Foundation Co (TFO).
With the ongoing restructuring, the France-based firm’s group revenue declined to €5.563 billion (US$5.74 billion) year-on-year in the January to June period.
Meanwhile, Evidian grew two per cent to $2.539 billion, while TFO declined 2.6% to €3.024 billion (US 3.12 billion).
Further, 12,370 employees left the company during the first half of this year while recruiting offshore and nearshore workers.
However, the company said that they have a “much more contained revenue decline” than last year.
At the same time, Atos stated that they had witnessed a “sharp rebound in order entry” in the second quarter and the book-to-bill ratio improved to 101% compared to 78% in Q1.
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