Teleperformance

From WFM Labs


Teleperformance SE, trading as TP since February 2025, is a French business process outsourcing provider listed on Euronext Paris (ticker TEP). On the revenue and headcount it reports, it is among the largest customer-experience outsourcers in the world: €10.2 billion of revenue in 2025 and nearly 490,000 employees in around 100 countries.[1] This page profiles the company as a category of supply, for workforce-management practitioners weighing what a footprint-and-scale provider can and cannot be asked to do; it does not assess any particular client relationship.

Overview

Teleperformance was founded in Paris in 1978 by Daniel Julien, who remained chief executive until he was replaced as director and chief executive by Jorge Amar effective March 16, 2026; Moulay Hafid Elalamy chairs the board.[1] The registered office is in Paris and the company is organized as a Societas Europaea.[2] Its shares have traded on Euronext Paris (Compartment A) since January 18, 2007; the 2025 registration document lists membership of the CAC Large 60, STOXX Europe 600 and S&P Europe 350 indexes, among others.[1]

In 2023 the company acquired Majorel, the Luxembourg-based outsourcer part-owned by Bertelsmann and Saham. Announced in April 2023, the deal completed on November 8, 2023, with Majorel consolidated from November 1; Majorel brought about 82,000 employees and €2.1 billion of 2022 revenue.[3][4] The company set a cost-synergy target of about €150 million by 2025.[3] On February 27, 2025, the group adopted TP as its commercial brand; the legal entity remains Teleperformance SE.[5]

Scale and Footprint

Reported scale, selected periods
Measure Value Period and source
Revenue €10,209 million; −0.7% reported, +1.3% like-for-like FY2025[1]
Recurring EBITA €1,485 million (14.6% margin as the company reports it; the figure coincides with Specialized Services revenue below, and both are stated separately in the registration document) FY2025[1]
Net free cash flow €901 million, excluding non-recurring cash-outs FY2025[1]
Net debt €3,966 million December 31, 2025[1]
Revenue €4,883 million; −4.5% reported, −1.7% like-for-like H1 2026[2]
Recurring EBITA €662 million (13.6% margin) H1 2026[2]
Employees Nearly 490,000 in around 100 countries 2025 registration document[1]

Revenue in 2025 split into Core Services of €8,724 million (85%) and Specialized Services of €1,485 million (15%).[1] The first half of 2026 was weaker: like-for-like revenue fell 2.2% in the first quarter and 1.2% in the second, which management attributed mainly to "the sharp decrease in Trust & Safety and continued acceleration of offshoring delivery," while noting that revenue excluding Trust & Safety grew 1.7% like-for-like.[2] Under a portfolio review announced in April 2026, the company said it had decided "to exit certain countries and to discontinue a number of contracts where profitability levels were not meeting the Group's standards."[6]

Within the roughly 100 countries of presence, the 2025 registration document describes onshore centers, nearshore and offshore operations serving other markets from 45 countries, and multilingual hubs housing staff from around the world in eight countries: Portugal, Greece, Romania, Spain, Egypt, Malaysia, Indonesia and Thailand.[1] In May 2024 the company described its Portuguese operation as over 14,000 people serving 37 languages,[7] and in April 2024 its Greek operation as more than 12,000 people across six hubs supporting more than 43 languages and dialects.[8] Both are company statements that predate the 2026 portfolio review.

Service Lines and Industry Practices

TP reports two segments. Core Services is the contact center and business-process business. Of 2025 Core Services revenue, customer care was 63%, Trust & Safety (the company's term for content moderation) 9%, technical support 8%, sales 8%, back-office processing 5%, data services for AI 2% and other lines 5%; by vertical, again as a share of Core Services revenue, media, entertainment and gaming was 21%, financial services and insurance 17% and travel and hospitality 12%.[1] Specialized Services groups separately branded businesses, including LanguageLine Solutions (interpreting), TLScontact (visa processing) and PSG Global Solutions (recruitment process outsourcing); in the first half of 2026 it earned a 33.0% recurring EBITA margin against 10.5% for Core Services.[2] For content moderators the registration document describes a well-being program (Welev8) with on-site psychologists and a coordinator per client program.[1]

AI and Automation Positioning

On June 18, 2025, at a capital markets day in New York, TP presented a strategic plan called "Future Forward." It introduced TP.ai FAB (Foundational AI Backbone), described as "a proprietary AI orchestration platform designed to seamlessly integrate artificial intelligence, human expertise, and automation at scale," an AI partnership program with planned investment of up to €100 million in 2025, and the acquisition of the crowdsourcing platform Agents Only. Stated objectives for 2028 were a return to 4–6% like-for-like growth, a recurring EBITA margin of about 15.5%, and cumulative 2026–2028 net free cash flow of about €3 billion.[9]

Subsequent reporting tracks the program in project counts rather than agent-productivity terms: more than 500 AI projects launched in 2025 and more than 1,100 running at June 30, 2026.[1][2] The same disclosures carry a cost program: an "AI efficiency program" booked €109 million of restructuring costs in the first half of 2026 and was expanded in July 2026 to target €150–170 million of annual run-rate savings.[2]

Financial and Market Signals

S&P Global Ratings has rated the company's long-term debt BBB with a stable outlook since November 22, 2021; the registration document records the rating as confirmed on November 19, 2025.[1] For 2026 the company guided to 0–2% like-for-like growth, a recurring EBITA margin of about 14.6% and net free cash flow of €800–850 million, and confirmed those targets in July 2026.[1][2]

Euronext monthly data in the registration document show a 2025 share-price high of €107.80 in March and a January 2026 close of €54.60.[1] Shares rose 5.7% to €54.44 on the full-year presentation of February 26, 2026.[10] On June 30, 2026, they fell 13% after Concentrix, a listed peer, reported results that analysts read as pointing to "increased offshoring, pressure on margins and profitability prospects below market expectations."[11] On July 16, 2026, JPMorgan resumed coverage at underweight with a €44 target, citing the "risk of rising operating costs (Opex), investment spending (Capex) and restructuring costs in 2026 and beyond."[12]

Risks and Controversies

Securities litigation (2023–2025). Two public pension funds filed a securities class action against Teleperformance SE and three executives in the District of Idaho on April 19, 2023; the case was transferred to the Southern District of Florida on December 5, 2023.[13][14] The docket shows a first motion to dismiss granted in part with leave to amend on May 22, 2024, a second motion to dismiss denied on August 28, 2024, court-ordered mediation on November 7, 2024, and a notice of settlement filed December 9, 2024, after which the case was marked terminated on December 10, 2024; settlement terms are not on the public docket summary.[14] The complaint concerned disclosures about the content-moderation business; the registration document notes that the share price experienced "a disproportionate fall" on November 10, 2022 "following allegations in Colombia."[1] No company statement on the settlement was located for this page.

Colombia (2022–2023). In October 2022 the Bureau of Investigative Journalism and TIME reported on pay, working conditions and surveillance among content moderators employed by Teleperformance in Colombia for a social-media client.[15] On November 8, 2022, the Colombian labor ministry announced that it had opened an investigation into the company; a spokesperson told TIME, "Should we receive any official notification we will respond to it appropriately at that time."[16] On December 1, 2022, the company signed a global agreement with UNI Global Union covering 440,000 employees in 88 countries,[17] and on April 18, 2023, a Colombian implementation agreement with UNI Americas and the Utraclaro union, mediated by the Colombian vice minister of labor.[18] The company reported in July 2026 that the three-year global agreement concluded on May 31, 2026 and that it would establish Global Employee Forums by the end of 2026.[2]

Greece (January 2025). Greek City Times reported on January 15, 2025 that workers at TP's Greek call centers, organized by the Setep union, were striking over alleged retaliation against union activity, excessive monitoring and the absence of a collective labor agreement. The outlet stated that the company had not responded to requests for comment, and no company statement was located for this page.[19]

Ghana (April 2025). On April 27, 2025, the Bureau of Investigative Journalism, with the Guardian, reported that content moderation for a social-media platform client had moved from Kenya to an Accra site operated by Teleperformance, where about 150 moderators described mental-health harms, dismissals and instructions to keep the client's identity confidential.[20] Teleperformance told the Bureau: "We have robust people management systems and workplace practices, including a robust wellbeing program staffed by fully licensed psychologists to support our content moderators throughout their content moderation journey," and said it is "fully transparent with its prospective moderators regarding the content they might see during their work."[20]

Separately from these matters, management's stated position on the Trust & Safety line in July 2026 is that it "continued to experience a sharp decline due to accelerated automation leading to lower volumes and a stronger competitive dynamics," and that it has "implemented strong mitigating actions that are expected to bear fruit from next year."[2]

Role in a Service Estate

The roles below describe a class of provider, not a recommendation for any buyer. Read against Vendor Portfolio Design by Body of Work, TP belongs to the footprint-and-scale class for the customer-facing body of work: it can stand up large multilingual capacity quickly, serve one program from several geographies, and absorb volume an estate's own centers cannot. Those are the properties that make a provider useful as variance-absorbing capacity in the sense set out in Outsourcing as a Risk Lever, and they belong to scale rather than to any one site. The same properties fit the second seat in a two-provider design, where a second outsourcer of comparable footprint disciplines the first on price and service and preserves the option of moving volume; the counterweight is that a supplier of this size sets its own priorities across more than 1,500 clients, so a single program's leverage is limited.[1] The distinction in Front-Office and Back-Office Outsourcing Are Different Bodies of Work matters because TP sells both bodies and reports them together; back-office processing at 5% of Core Services revenue is a small part of a front-office business, so a buyer sourcing back-office work here should expect front-office governance and measurement questions.

WFM Practitioner Perspective

These questions are generic to large front-office suppliers; nothing here is a finding about a specific engagement. First, tenure and attrition terms by named team: the company is exiting countries and contracts, and its multilingual hubs house staff drawn from many countries,[1] so the tenure profile of the team on a program predicts service better than group headcount, for the reasons in Speed to proficiency curve; continuity clauses should name teams rather than sites. Second, one quality instrument: comparability with the buyer's own centers requires the buyer's instrument applied at the same sampling rate, as set out in Sample Size and Detectable Difference in Quality Measurement. Third, model and data ownership: TP.ai FAB is positioned as proprietary and progress is reported as a count of projects, so the contract should settle who owns fine-tuned models, prompts, transcripts and annotated data, and what the exit path is. Fourth, the terms in The Vendor as Relief Valve: what volume the provider will absorb, at what notice, and whether it can move that volume between its own geographies without the buyer's consent.

Maturity Model Position

Providers sit outside the WFM Labs Maturity Model™, which grades the buyer's operation, but the buyer's level determines what the provider can be asked to do. At Level 2 (Foundational) and Level 3 (Progressive) a scale provider is typically used for overflow and seasonal capacity under a service-level contract. At Level 4 (Advanced), where objectives are measured per pool, the provider becomes one pool among several and can be placed on data alongside the buyer's own centers, which requires the one-instrument and named-team terms above. At Level 5 (Pioneering), where a governing loop allocates work across the estate, the provider's AI platform and the buyer's placement engine must interoperate, and model-ownership and data-flow clauses become an operating dependency.

See Also

References

  1. ↑ 1.00 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.10 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18 Teleperformance SE. "Universal Registration Document 2025." Filed with the AMF, 2026. https://www.tp.com/media/msvfbns0/tp-urd-2025.pdf
  2. ↑ 2.00 2.01 2.02 2.03 2.04 2.05 2.06 2.07 2.08 2.09 TP. "2026 First Half Results." Press release, July 30, 2026. https://www.tp.com/media/1yxhdsni/tp-press-release-h1-2026-results.pdf
  3. ↑ 3.0 3.1 Teleperformance. "2023 annual results: profitable growth and strong cash flow." Press release, March 6, 2024. https://www.tp.com/media/ylrfbdqt/teleperformance-press-release-2023-annual-results-ev-def.pdf
  4. ↑ Bertelsmann. "'A Great Entrepreneurial Success Story' – Bertelsmann Transfers Majorel Stake to Teleperformance After Successful Takeover Bid." November 8, 2023. https://www.bertelsmann.com/en/media/news/a-great-entrepreneurial-success-story-bertelsmann-transfers-majorel-stake-to-teleperformance-after-successful-takeover-bid.html
  5. ↑ TP. "Teleperformance is Now TP: A New Brand for a New Era." February 27, 2025. https://www.tp.com/en-us/insights-list/insightful-articles/global/teleperformance-becomes-tp-a-new-chapter-in-brand-evolution/
  6. ↑ TP. "First-quarter 2026 revenue." Press release, April 28, 2026. https://www.tp.com/media/51ob00no/tp-press-release-q1-2026-revenue.pdf
  7. ↑ TP. "Leveraging Advanced AI Capabilities: Meet TP's Multilingual Hub in Portugal." May 22, 2024. https://www.tp.com/en-us/insights-list/insightful-articles/global/leveraging-advanced-ai-capabilities-meet-tp-s-multilingual-hub-in-portugal/
  8. ↑ TP. "Leveraging Advanced AI Capabilities: Meet TP's Multilingual Hub in Greece." April 8, 2024. https://www.tp.com/en-us/insights-list/insightful-articles/global/leveraging-advanced-ai-capabilities-meet-tp-s-multilingual-hub-in-greece/
  9. ↑ TP. "TP Introduces 'Future Forward' Strategy to Accelerate Transformation and Growth." Press release, June 18, 2025. https://www.tp.com/media/lx4fud0x/tp-press-release-cmd-ev-def.pdf
  10. ↑ Investing.com. "Teleperformance FY 2025 slides: AI push accelerates amid FX headwinds." February 26, 2026. https://www.investing.com/news/company-news/teleperformance-fy-2025-slides-ai-push-accelerates-amid-fx-headwinds-93CH-4529289
  11. ↑ MarketScreener. "Teleperformance shares fall 13% after Concentrix results." June 30, 2026. https://www.marketscreener.com/news/teleperformance-shares-fall-13-after-concentrix-results-ce7f5fdcd881f72d
  12. ↑ MarketScreener. "TP Loses More Ground, JPMorgan Resumes Coverage With Underweight." July 16, 2026. https://www.marketscreener.com/news/tp-loses-more-ground-jpmorgan-resumes-coverage-with-underweight-ce7f5ed2d089f021
  13. ↑ CourtListener. Docket, City of Warren General Employees' System v. Teleperformance SE, No. 1:23-cv-00181 (D. Idaho). https://www.courtlistener.com/docket/67239692/city-of-warren-general-employees-system-v-teleperformance-se/
  14. ↑ 14.0 14.1 CourtListener. Docket, City of Warren General Employees' System v. Teleperformance SE, No. 1:23-cv-24580 (S.D. Fla.). https://www.courtlistener.com/docket/68061565/city-of-warren-general-employees-system-v-teleperformance-se/
  15. ↑ McIntyre, Niamh, Rosie Bradbury and Billy Perrigo. "Behind TikTok's boom: A legion of traumatised, $10-a-day content moderators." The Bureau of Investigative Journalism, October 20, 2022. https://www.thebureauinvestigates.com/stories/2022-10-20/behind-tiktoks-boom-a-legion-of-traumatised-10-a-day-content-moderators/
  16. ↑ Perrigo, Billy. "TikTok's Subcontractor in Colombia Under Investigation for Traumatic Work." TIME, November 9, 2022. https://time.com/6231625/tiktok-teleperformance-colombia-investigation/
  17. ↑ UNI Global Union. "Teleperformance and UNI Global Union sign global agreement." December 1, 2022. https://uniglobalunion.org/news/teleperformance-and-uni-global-union-sign-global-agreement/
  18. ↑ UNI Global Union. "Teleperformance, UNI Americas and Utraclaro reach agreement in Colombia." April 18, 2023. https://uniglobalunion.org/news/teleperformance-agreement-in-colombia/
  19. ↑ Giannopoulos, Bill. "Greek Call Center Workers Strike Over Union Busting, Surveillance, and Unfair Working Conditions." Greek City Times, January 15, 2025. https://greekcitytimes.com/2025/01/15/greek-call-center-workers-strike-over-union-busting-surveillance-and-unfair-working-conditions/
  20. ↑ 20.0 20.1 Wilmot, Claire, and Rachel Hall. "Suicide attempts, sackings and a vow of silence: Meta's new moderators face worst conditions yet." The Bureau of Investigative Journalism, April 27, 2025. https://www.thebureauinvestigates.com/stories/2025-04-27/suicide-attempts-sackings-and-a-vow-of-silence-metas-new-moderators-face-worst-conditions-yet

Verification Notes

Page compiled September 7, 2026. Figures are as of the H1 2026 reporting cycle (released July 30, 2026) and should be refreshed after the Q3 2026 revenue release; the portfolio review announced in April 2026 was still in progress at compilation.

  • Primary documents read directly: the 2025 Universal Registration Document (which carries all FY2025 figures used here), the Q1 2026 and H1 2026 results releases and the June 18, 2025 Future Forward release (tp.com), the Bertelsmann completion release, the UNI Global Union releases, and the CourtListener dockets.
  • Journalism read at source: the two Bureau of Investigative Journalism articles and the TIME report, each carrying the company's published response where one was given.
  • Weakly confirmed, flagged inline: the January 2025 Greek strike rests on a single regional outlet (Greek City Times) with no company response located; no second source was found.
  • Secondary market items (Investing.com, MarketScreener news) carry only the three dated share-price reactions and analyst actions in Financial and Market Signals.
  • Omitted as unverifiable against a primary source: cumulative Majorel synergy achievement against the €150 million target; a "Travel, Hospitality and Cargo" practice name (the registration document names travel and hospitality as a vertical only); early-2026 press reports of short-seller positioning; comparison to the all-time share-price peak; settlement terms of the securities litigation and any company statement on it. Third-party analyst placements were not compiled.
  • Multilingual-hub headcounts and language counts are company statements dated April and May 2024. Segment margins are from the first half of 2026 while segment revenue shares are for 2025.
Retrieved from "https://wiki.wfmlabs.org/w/index.php?title=Teleperformance&oldid=4606"