Pandemic Caused ‘Substantial Disruption’ in SiriusXM’s Call Center Staffing
SiriusXM “migrated” 5,500 employees and contractors to work from home in “mere days” after the pandemic hit, but still experienced a “substantial disruption of our call center staffing,” said CEO Jim Meyer on a Q1 investor call Tuesday. Staffing fell…
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50% to 60%, “lengthening hold times, increasing abandoned rates and reducing our ability to handle customer needs and support our sales campaigns,” he said. “We have made significant improvement here, but I don't expect us to get back to our normal levels until stay-at-home orders are lifted.” With lockdown orders across most of the U.S., “we see an opportunity to get more Americans to stream SiriusXM, as well as a unique occasion to get our existing subscribers to stream more,” he said. A “close proxy” of the automotive shows sales down roughly 55% to 60%, said Chief Financial Officer David Frear. That’s “not quite as bad as we thought, and many states are now reevaluating whether auto dealer showrooms should remain closed,” he said. Lower auto sales today mean “fewer conversion opportunities three months from now,” when free trials expire, he said.