8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

                          Date of Report: May 10, 2002
                        (Date of earliest event reported)

                             TeleTech Holdings, Inc.
             (Exact name of registrant as specified in its charter)

                                                      
             Delaware                    0-21055                         84-1291044
     (State of Incorporation)    (Commission File Number)   (I.R.S. Employer Identification No.)



                9197 S. Peoria Street, Englewood, Colorado 80112
          (Address of principal executive offices, including Zip Code)

                         Telephone Number (303) 397-8100
              (Registrant's telephone number, including area code)

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Item 4.  Changes in Registrant's Certifying Accountant.

     On May 10 2002, Arthur Andersen LLP ("Andersen") was dismissed as
independent accountant for TeleTech Holdings, Inc. (the "Company") effective
upon completion of its review of the Company's financial statements for the
quarter ended March 31, 2002, and Ernst & Young LLP ("E&Y") was appointed as the
new independent accountant for the Company to replace Andersen for the year
ending December 31, 2002. The decision to dismiss Andersen and to appoint E&Y
was recommended by the Audit Committee of the Board of Directors and was
approved by the Board of Directors on May 10, 2002.

     Andersen's reports on the Company's financial statements for the two fiscal
years ended December 31, 2000 and December 31, 2001, did not contain an adverse
opinion or disclaimer of opinion and were not qualified or modified as to
uncertainty, audit scope or accounting principles.

     During the Company's two most recent fiscal years and the period from
January 1, 2002 through May 10, 2002, there were no disagreements between the
Company and Andersen on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure, which
disagreements, if not resolved to the satisfaction of Andersen, would have
caused it to make reference to the subject matter of the disagreements in
connection with its report.

     None of the reportable events described under Item 304(a)(1)(v) of
Regulation S-K occurred within the two most recent fiscal years of the Company
ended December 31, 2001 or within the interim period through May 10, 2002.

     During the years ended December 31, 2001 and 2000 and through the date
hereof, the Company did not consult E&Y regarding any matters or events set
forth in Item 304(a)(2)(i) and (ii) or Regulations S-K.

     As required under Securities and Exchange Commission (the "Commission")
regulations, the Company provided Andersen with a copy of this Item 4 and
requested Andersen to furnish the Company with a letter addressed to the
Commission stating whether it agrees with the statements by the Company in this
Item 4 and, if not, stating the respects in which it does not agree. Andersen's
letter is filed as Exhibit 16.1 to this Current Report.

Item 7.  Exhibits.

     16.1  Letter dated May 10, 2002, from Arthur Andersen LLP to the Securities
           and Exchange Commission.

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                                    SIGNATURE

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                    TeleTech Holdings, Inc.

                                                    By:

                                                    /s/ Kenneth D. Tuchman
                                                    KENNETH D. TUCHMAN
                                                    Chief Executive Officer

Dated: May 16, 2002

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EX-16.1

                                  EXHIBIT 16.1

May 10, 2002

Office of the Chief Accountant
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549

Dear Sir or Madam:

We have read Item 4 included in the Form 8-K dated May 10, 2002 of TeleTech
Holdings, Inc., to be filed with the Securities and Exchange Commission and are
in agreement with the statements contained therein.

Very truly yours,

/s/ Arthur Andersen LLP

Arthur Andersen LLP

cc:         Margot O'Dell
            Chief Financial Officer
            TeleTech Holdings, Inc.