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Since its nationalization, they said, Cantv had filled thousands of vacated positions with unqualified staff. The company has stopped upgrading its servers and maintenance on its fiber optic network was halted, causing ever more frequent service disruptions, they said letter p cufflinks uk sale. Fernandez said last year that, before its nationalization, Cantv was an elitist U.S.-controlled company which took its profits abroad instead of investing in the country. According to the Speedtest Global index, Venezuela ranks among the worst five countries for both mobile and broadband connection speeds..
Cantv had 2.45 million internet subscribers, nearly 7 million fixed line subscribers and almost 14 million mobile subscribers by the end of 2015, according to internal data seen by Reuters. The country’s population is around 32 million letter p cufflinks uk sale. Average salaries at Cantv are now worth less than $8 a month and pay often arrives late. People who oppose the ruling Socialist Party do not get promotions, employees said. “The company is frozen in time,” Jose Maria De Viana, a former chairman of Cantv’s mobile phone unit, said..
Cantv publishes few financial details but a copy of its private results, seen by Reuters, for the January-October 2016 period shows the company can no longer fund itself letter p cufflinks uk sale. It was short 2.72 billion bolivars, then the equivalent of $1.8 million, to meet its investment target and needed 390 million bolivars in “external funds” to help cover the shortfall, data in the documents showed. Between 2013 and 2016, Cantv’s payroll for its 15,000 employees quadrupled as the government lifted wages to compensate for inflation, according to the report seen by Reuters..
Two executives with access to company data, who resigned in recent months, told Reuters that Cantv has to request funds from the central bank to pay its staff. The company also suffers from the government’s insistence that it keeps its fees low, currently the equivalent of less than one dollar per month. Cantv was dependent on agreements with ZTE and Huawei to supply equipment and staff and the firms were paid in dollars out of the Venezuela China Joint Fund, a bilateral financing program, the current and former employees said. Cantv sends its employees to China to receive training, they added letter p cufflinks uk sale.
President Nicolas Maduro has turned to ZTE, in particular, to implement technology projects. Last week, Reuters reported details of ZTE’s role developing a new smart card ID that critics say Maduro is using as a tool to monitor the populace and allocate scarce resources to people his government deems most loyal letter p cufflinks uk sale. Su Qingfeng, the head of ZTE’s Venezuela unit, said in a phone interview that ZTE was not Cantv’s biggest provider and received no preferential treatment with contracts. A Huawei spokesman declined to comment on its relationship with Cantv..