Irish telecommunications company GTT Communications has said it is struggling to find customers, and is “scrambling” to meet demand from consumers.
Speaking at a meeting with senior executives in Dublin, GTT chief executive Peter Bicknell said GTT’s business was “in a very difficult position” with customers switching to mobile phones, and its internet traffic “is at an all-time low”.
Mr Bicknell said Gtt’s revenue was “very low”, with net revenue falling from €7bn in 2016 to €4.5bn in 2019.
“Our business is facing a very challenging period, the revenues of the two services we sell are at a level that is unprecedented,” he said.
Mr Bittnell said the company was struggling to keep up with demand from its customers, adding that it would continue to struggle.GTT has faced mounting criticism from the Irish government, with the government calling for the company to be given “robust” regulation.
It is expected that GTT will face a hearing in the Irish Court of Justice on Monday.
In a statement, Gtt said: “GTT Communications is currently in a very tough situation with customers and the internet service that we offer to customers.
Our business is experiencing a massive and unprecedented decline in demand, and we are now unable to meet the demand we are seeing.”GTT said it was working on a plan to increase internet speeds, but was “not able to say at this time” how much the plan would cost.