Editing Foundever (section)

=== Early history ===
Foundever started as a subsidiary of [[United Technologies]] called HQ800 and located in Omaha, Nebraska.<ref name="book">{{cite book|title=International Directory of Company Histories|volume=128|pages=415–418|chapter=Sitel Worldwide Corporation|first=Jay|last=Pederson|year=2000|publisher=St James Press}}</ref> Its then-President, James F. Lynch, bought the company for $165,000 in 1985.<ref name="Henry 1999">{{cite news | last=Henry | first=Kristine | title=Sitel seeking remedy for its growing pains| newspaper=The Baltimore Sun | date=February 28, 1999 | url=https://www.baltimoresun.com/news/bs-xpm-1999-02-28-9902270238-story.html | access-date=October 12, 2019}}</ref> He renamed it "'''SITEL'''/'''Sitel'''," which stands for "System International TELemarketing."<ref name="book" /> At the time, SITEL had about $100 million in annual revenue<ref name=":0">{{cite news|title=Founder of Sitel takes reins again 2 top officers resign as teleservices firm moves to cut costs|newspaper=The Sun|first=Dan|last=Dang|date=March 31, 2001}}</ref> and 16 employees.<ref name="journal">{{cite journal|journal=CONfines of International Relations and Political Science|title=Los call centers y los nuevos trabajos del siglo XXI|issn=1870-3569|first=Jordy|last=Micheli Thirion|page=56|language=Spanish}}</ref>

Sitel was listed on [[NASDAQ]] in 1995.<ref name="The New York Times 1995">{{cite web | title=Investing IT: At the Gate; With New Issues, Small Can Be Beautiful | website=The New York Times | date=September 10, 1995 | url=https://www.nytimes.com/1995/09/10/business/investing-it-at-the-gate-with-new-issues-small-can-be-beautiful.html | accessdate=October 13, 2019}}</ref><ref name="cc">{{cite news|title=Sitel founder goes to work on rebuilding|last=Monegain|first=Bernie|newspaper=CC News|publisher= Yarmouth|date=June 1, 2001}}</ref> Afterwards, it expanded internationally by opening new offices and acquiring other call center companies abroad.<ref name="book" /><ref name="Henry 1999" /> For example, in 1996 Sitel acquired [[London]]-based telemarketing company Mitre PLC for $230 million.<ref name=":1">{{cite web | title=Sitel to Acquire Mitre PLC For $230 Million in Stock | website=WSJ | date=June 7, 1996 | url=https://www.wsj.com/articles/SB834165969747997500 | ref={{sfnref | WSJ | 1996}} | access-date=October 13, 2019}}</ref> Simultaneously, Sitel announced it bought a 69.2 percent interest in Teleaction, a Spanish-focused telemarketing company, for about $24 million.<ref>{{cite web | title=Sitel Announces Acquisitions Totaling $289 Million | website=The New York Times | date=June 8, 1996 | url=https://www.nytimes.com/1996/06/08/business/company-news-sitel-announces-acquisitions-totaling-289-million.html | ref={{sfnref | The New York Times | 1996}} | access-date=October 13, 2019}}</ref> That same year, Sitel acquired Canadian Telephone Corporation.<ref name="journal" />

In the 1990s, Sitel grew about twelve-fold to $600 million in revenues.<ref name=":0" /> Sitel had 24,000 employees and 70 call centers but was struggling to turn a profit.<ref name="Henry 1999" /><ref name="cc" /> It had substantial debt from the cost of acquisitions<ref name="cc" /> and expenses related to closing unprofitable call centers it had acquired.<ref name="Henry 1999" /> In 2001, Sitel was restructured to reduce taxes<ref name="cc" /> and hundreds of middle-management positions were cut.<ref name="Henry 1999" />