$1.38 Billion Quarterly Loss for Concentrix (CNXC). Ave IA, morituri call centers te salutant

Concentrix (NASDAQ: CNXC), the global call-center giant, has recorded a quarterly loss of $1.38 billion in its accounts for the fourth quarter of 2025. AI, speech analytics, and a global decline in contact volumes are transforming the customer relations industry. Who will perish, who will survive, and why? Furthermore, why has Concentrix impaired its goodwill, somewhat under the radar?
 

Make Call-Centers Great Again

If a Donald Trump clone were to take the helm of a major outsourced customer experience (BPO) company tomorrow, he would likely update his famous MAGA slogan with a new acronym: MCCGA. After the "wild years" (1984-2003) followed by a regulatory phase (2004-2023), as recounted in a book tracing the history of phoning and cold calling, the outsourced customer relations industry has entered a much bleaker post-COVID period. Mergers, closures, and price slashing to fill empty sites have become the norm. TP (formerly Teleperformance), the world leader, has let go of 60% of its workforce in France and even changed its name. Stock prices for listed players, including CNXC, are now down by 70% to 80%.

In its latest issue, En-Contact magazine began a series of articles on industry players, many of whom are going through a rough patch. However, this is not a fatality: companies such as Euro CRM, Amicio, Alta Etic, and even Armatis or Outsourcia continue to stay the course with agility, caution, and financial transparency. Euro CRM has announced double-digit EBITDA, while a broker like Magnolia, which operates its own call centers, is finalizing its sale at a very attractive valuation: 300 million euros.

Consumers still manage transactions and requests via phone or WhatsApp, but they have less desire for unsolicited outreach. Basic information requests can now be handled effectively by conversational agents. There is a path, narrow, certainly, but existing and illuminated for remote customer relations specialists.
 

"AI has transformed our conversation analysis practice" – Aurélie Picquet, Quality and Training Manager at Amicio

Random Quality Monitoring (QM) is a thing of the past. Speech analytics and AI-powered personalized QM are the present in Abbeville, Libourne, and Redon. Like many phone-based customer relations specialists, Amicio produces a specific type of "fuel" every day: phone conversations. What is said, shared, and heard has long been analyzed randomly through QM. These call monitorings allow supervisors and quality departments to train staff and improve compliance with processes and scripts.

"For several months now, the practice has been modified, and it has truly changed our profession," says Aurélie Picquet, the quality manager in Libourne.

"Thanks to a tool we developed and improved with Diabolocom, we run all agent call recordings through AI to analyze both the form and content of conversations. This AI offers two major advantages: it produces a systematic, exhaustive analysis with detailed reasoning for every evaluated criterion. This allows us to spend time on what matters most: providing systematic feedback to the agent.

AI is actually only a small part of the story; the heart of the matter is a paradigm shift. How do we use AI to measure compliance while leaving room for the agent to carry the client's brand image with genuine freedom? Furthermore, by benefiting from rich analysis and massive datasets, root causes are identified faster to improve the customer experience.

Finally, this challenges the classic competency mapping model. Agents gain autonomy and self-evaluate, while managers embrace their role as coaches as a core skill. One last emotional takeaway: while it can be daunting, introducing AI into our business processes is an exciting challenge that is deeply transforming how we work."

Wherever they are implemented, speech analytics tools radically transform call-center practices. Much like how athlete training was revolutionized by video and data tracking, AI is establishing new scientific and objective practices.
 

Aggregating heterogeneous conversations: Amicio’s technical choice

Technically, conversation sources are heterogeneous, coming from various telephony platforms used by Amicio and "imposed" by clients. The choice to partner with Diabolocom was driven by targeted expertise exchange, French sovereignty, and loyalty to its status as a "mission-driven company" (entreprise à mission). Amicio integrates technology with a clear goal: transforming the lives of agents and support services, who, being better equipped, have more time or energy to provide the human touch that creates a distinctive customer experience.
 

"Amicio’s mission: A compass for all seasons!" – Benoît Bourla, CEO

Amicio was the first customer relations provider to become a mission-driven company. How does this status make a difference in the current climate?

"At Amicio, our mission isn't a slogan; it's a strategic compass that aligns all teams. Rather than just enduring industry transformations and the AI revolution, Amicio strengthens its commitments and uses its mission as a driver for innovation and resilience. This dynamic relies on close cooperation with our tech partners—Diabolocom, La Ligne Verte, and Rizlum—to combine performance, humanity, and sovereignty."

Diabolocom, Rizlum, La Ligne Verte

The company has selected several technical partners to support this evolution, ensuring they remain consistent with its mission and impact.

"With Rizlum, we offer an Agentic Conversational AI that combines efficiency and sovereignty. This allows us to provide a 'conversational assistant + human agent' tandem at more competitive rates than offshore, with the quality of 100% 'Made in France' services.

With La Ligne Verte and our AI-augmented knowledge bases, we have transformed our training programs to accelerate upskilling while enhancing quality.

Finally, through a co-construction approach with our partner Diabolocom, Quality Monitoring has become a strategic lever for performance, employee experience, and customer satisfaction.

The most significant results are seen in automated or AI-assisted call evaluation, as our partnership with Diabolocom is our longest-standing. A key takeaway is that this approach disrupts traditional management codes by placing accountability and autonomy at the heart of performance. Agents become active participants in their own progression, supported by manager-coaches within a continuous learning framework. Inspired by elite sports, this method transforms every data point into a lever for individual and collective excellence.

In this way, Amicio is charting a path toward a sustainable revolution in customer relations, shared with its employees, clients, and all stakeholders."
 

Speech Analytics Players in France

They are legion, but few have been effectively deployed within outsourced call centers. Feedae and Diabolocom often offer special rates or even free trials to their first clients to encourage adoption. According to our information, Feedae’s implementation at Oscaro was offered for free. However, one discreet player has taken a lead over all competitors and is highly praised by clients who actually pay for the service. At Hermes, Apple, or BYD, bags, iPhones, and cars aren't given away for free.
 

Concentrix (CNXC): Q4 2025 Figures

Few days ago, the world's No. 2 call-center operator published its Q4 results: Revenue: $2.55 billion. It recorded a quarterly loss of $1.38 billion, corresponding to a massive impairment of goodwill in the accounts. On its corporate website, no press release mentions additional official information. The accounts are beginning to reflect the actual value of large companies in the sector, now valued at 4 to 11 times their EBITDA. Following this news, TP saw its stock price drop.

At our request, the management of Concentrix did not wish to comment on the published results.

The Editorial Team of En-Contact. 

Cover photo: Webhelp offices in Glasgow. photo : Edouard Jacquinet.