Teleperformance to meet with Colombian officials over probe into local subsidiary

By Scott Kanowsky 

Investing.com -- Shares in Teleperformance SE (EPA:TEPRF) rebounded slightly from steep recent declines after the TikTok moderator said it would meet with officials from the Colombian government to discuss their investigation into its work environment.

In a statement on Monday, the Paris-based group added that representatives from its subsidiary in Colombia will speak with the country's labor ministry on November 16.

Media reports have suggested that Teleperformance moderators in Colombia have been forced to wade through hours of disturbing content for low pay, while union activities have also been busted. Teleperformance's share price plunged by nearly a third on Thursday after Colombia announced that it would look into the company's labor practices.

Teleperformance said it had not yet received a formal notification that it was under investigation, but promised to "engage and collaboratively discuss its operations in Colombia," where it employs more than 41,000 people.

"As a responsible and law-abiding corporate entity, it will also fully support the authorities on any review that they would like to conduct," Teleperformance added.

Last week, the firm also laid out plans to buy back €150 million (€1 = $1.0300) of its own shares in response to what it described as a "disproportionate" slide in their value.