Vodafone Idea (Vi) has been struggling because of fundraising issues. Now, fresh developments say that around one-fifth or 20% of the sales team has quit the company in the last few weeks. The company's performance has been extremely poor in the last few years as the telco has not been able to add new subscribers, nor has it turned an eye towards profits. Vi hasn't been able to handle the rising subscriber churn rate either. According to a Financial Express report, Vi's 20% sales team has left the company in the last few weeks. The company has many job posts on LinkedIn, which suggest that the company is looking to refill the vacant positions.
The report added that Vi said that 95% of its planned positions are full, and that is a very healthy staffing level. Vodafone Idea has been hiring people from its competitors to strengthen its workforce. However, things are not looking good for Vodafone Idea. The telco is in desperate need of funding. Vi has been trying to raise money, but the telco won't be able to do so until the time government goes ahead with the equity conversion. The government won't do anything until the time promoters add in capital from their side.
The Financial Express report said that retailers in the Delhi-NCR region have been selling SIM cards to users by telling them that if they port to Vi 5G, they will get one month of free recharge from the company. This is despite the fact that the company has time and again said that it can't comment anything on its 5G rollout timeline until it gets funding and places orders with the network gear vendors.
Vodafone Idea is also facing the threat of losing tower access from Indus Towers if it can't repay the dues of close to Rs 7000 crore to the tower company. The telco's employees would also be facing the pressure to perform, and things won't become good until the time Vi can add subscribers, take its ARPU (average revenue per user) up and expand the reach of its 4G along with rolling out 5G.