#business

Still getting new meetings scheduled like everything is normal. Maybe layoffs aren't happening? Why are we so sure it's the 31st?

Verizon deal ?

The articles that just came out about the rumors of Citi seeking to acquire a regional bank speculate about PNC and Truist but it will be USB. The McKinsey mafia will ensure Kedia has a role at the combined organization.

All Florida Clinics were told ten minutes ago that all employees must attend a business update meeting at noon today. Any info on what’s happening?

Maybe that'll finally force leadership to step up their game and actually run the business instead of just extracting wealth.

Is another day of Reckoning for VZB mgmt on the horizon?

Thin the herd. Desperately needed. Bring some sanity back to the business.

Thank goodness they spent the money for the visibility in Happy Gilmore. Smart move! All the business pouring in from that is saving jobs and a major factor in the bank's generosity with its employees.

Any information about layoffs for ADE'S in Business Network in Europe?

https://www.businessinsider.com/bny-managers-teams-humans-agentic-ai-digital-employees-robin-vince-2026-3

What happened at 3pm today? Stock took an instant hit. 1.40 to 1.34 in an hour.
Did lean six sigma or the java ui do this? Is it Fat five beta now? Is there a new jdk ui?

WSJ March 20, 2026 4:55 am ET

Goldman Sachs will start a series of small layoffs. These reductions will continue throughout the summer. All business lines within the company are expected to be impacted. This new approach replaces the bank's previous single annual layoff event. Business-line leaders will now determine their own timelines for staff cuts.

https://www.pymnts.com/news/banking/2026/goldman-sachs-replaces-big-annual-layoff-with-targeted-rolling-cuts/

A massive reorg is being planned to reduce business units , and consolidate around AI document management systems. Think Content Server + Aviator.

BoA just signed up to take over all of OBP, making current tenants of 600,000 SF subtenants of BoA i.e. no immediate big expansion but we went from 1.8m SF leased to 2.4m SF total so flex option for the future...perhaps this is to enable the full RTO ?

If an entire online retail sector is bleeding money and racking up consistent losses, why are we still pouring resources into it? Why can’t we let those employees go or redeploy that talent pool into areas where we actually make money?
Our prices are noticeably higher than the competition’s, and we’re a pharmacy company at heart. So why does anyone seriously believe we can go head-to-head with retail giants and win customers?

Nobody is ever going to convince me that competent leadership needs some jack-of-all-trades consultants to improve their business. No chance in he-l an outsider has a clue compared to in-house institutional knowledge and experience.

The new margin guidance is here
This is going to be fun
I can guarantee the business 100% margin
But 100% of nothing

I have been long gone from staples since “sick a more” bought it out. I am quite surprised that staples is still around. I wonder for how long. It does not look like a viable business model any longer.

It seems there has been a lull in layoffs likely due to the latest tantrum. It seems that until he finds something new stateside to fixate on things will be in flux businesswise around the world. Will Dan continue his path or will it be a whole new plan afterwards?

Or is it just that program?

Trulieve, Florida’s largest medical mari--ana company, announced layoffs. Over 50 employees at a Clearwater call center will be affected. The company cited business restructuring for the permanent mass layoff. This decision followed a report of $1.2 billion in 2025 profits. Trulieve also reported record cash flow last year.

https://www.wfla.com/news/pinellas-county/trulieve-announces-mass-layoff-at-clearwater-call-center/amp/

Layoffs start next week with SEC business, WFH email sent this afternoon. SEC Tech will be done at a later date.

A former high-flying teammate recently moved into a commercial leader role for Proxxima. I'm not very familiar with the product or its business case - from what I can tell it's meant to be a polymeric replacement for rebar?
What kind of impact can a HiPo make in that business?

Does anyone know what is happening in Small Business/Business Underwriting? Loans are taking days upon weeks for approvals with all stipulations satisfied and members on my team have had their loans tossed to different underwriters constantly. When I have been messaging and emailing the underwriters on my loans there also no response. What is going on?

Ship all tech to ITC that’s fine but don’t leave me at PHK.
ITC is not comfortable talking to the biz or leaders so unless you put it all in their hands, they will defer to those left at PHK.
Has to be all or nothing or you have a few at PHK doing all the legwork with wasted money in ITC.

Did anyone get it yet ?

Anyone count this project for growth?

https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.fastcompany.com/91501853/nike-acg-latest-innovation-is-a-fully-portable-soccer-field&ved=2ahUKEwiU28rglIyTAxW6IjQIHe54AGgQxfQBKAB6BAgLEAE&usg=AOvVaw36Xbab9srd1gqONP7UnDce

I know EQIX is doing very well but wondering if the rumored business reorgs will brings layoffs along with it.

Good luck Friday, hope you don't get the 'business update' invite for Monday am. They're coming.

Despite the online gushing about a Verizon turnaround since CEO Dan Schulman took over, the completion of its break up by delayering, which started more than 10 years ago, seems a far more likely outcome for what was once the top wireless provider in the US.

Verizon has been delayering for a decade
Delayering is when a telco splits itself into separate ServCo, NetCo, and InfraCo layers and sells off its assets to address its debts. (For a deeper understanding, check out this TM Forum research report on it). Verizon has been at this awhile.

Sold its towers

Verizon began delayering in about 2015 when it sold most of its cell towers to American Tower and the rest to Vertical Bridge just last year. Now largely a ServCo-Netco, Verizon leases towers from American Tower, Vertical Bridge, Crown Castle, and SBA Communications. The company still owns its base stations and other network gear, which move toward obsolescence every day.

Sold its data centers

Verizon left the data center business in 2017 through a deal with Equinix and now partners with hyperscalers like AWS and Microsoft for data center capacity. So, Verizon does not own much of the physical plant where it runs its IT and network systems.

Verizon’s IT landscape remains on its books, but much or most of that is outsourced and licensed, some is obsolete, and all of it is aging fast. As the pace of change increases across IT markets worldwide, especially with the AI invasion, its legacy BSS and OSS systems become costlier and less relevant to future value.

Spinning off its stores

Most recently, Verizon announced it would convert its company-owned stores to franchised Authorized Retailers. Most likely these physical assets will go to big partners like Victra and Wireless Zone, which already operate thousands of Verizon stores. This also relates to the company’s announced layoffs of thousand of customer-facing employees to shed expense.

Fiber miles next?

Verizon still owns significant installed fiber optic assets. Just as AT&T and T‑Mobile US lease most of their fiber, we should probably expect to see Verizon sell off this physical plant to raise more cash.

Becoming customer-focused? Not really
Schulman’s turnaround spiel insists the company “must shift to a customer-first focus.” This is a tacit admission that Verizon isn’t customer-focused now.

Lip service ripped from T‑Mobile

Spinning out thousands of stores to partners who charge added service fees doesn’t sound like a customer-centric move. The messaging sounds disingenuous and is cut-and-pasted from T‑Mobile’s playbook. T‑Mobile’s “customer obsession” has helped it take the lead in US wireless and it took a few years to kick in.

Cut rate holiday offers

Verizon launched a “bring your bill” holiday campaign to undercut AT&T and T‑Mobile pricing. This isn’t customer-centric, it’s prospect-centric. And it’s a race to the bottom price gimmick Sprint failed with before being acquired by T‑Mobile US.

This desperation rate cut coupled with the 13,000 non-union layoffs looks more like a short-term ploy to bump Verizon’s stock by doing two things Wall Street likes: cutting costs and adding subscribers.

These moves might benefit Schulman’s cadre of executives and remaining shareholding employees. Keep an eye on insider sales the minute the stock price moves north, if it does.

Cannibalizing its own MVNOs
Part of Schulman’s justification for price cutting is to fend off its aggressive competitors and turn the tide on customer churn. Wireless offerings from cable MSOs are major drivers of the churn he wants to stop. Two of the biggest players in cable MVNOs are Comcast and Charter, which use Verizon’s network. Verizon might win some customers away from AT&T and T‑Mobile with its holiday sale, but they will also undercut these wholesale customers.

Back in May, Verizon Consumer CEO Sowmyanarayan Sampath was telling the street that cable MSOs are “a very important strategic partner of ours” adding that because they only focus on certain segments and play in markets where Verizon “may not have a presence… it’s actually a gain for us.”

Here’s your mixed metaphor of the day: Verizon is a snake eating its tail while rearranging deck chairs on a sinking ship. This is BS on top of BS from Verizon leadership.

A mountain of debt to conquer
One thing Verizon does own is a $147 billion mountain of debt. This stands against less than $8 billion in cash on hand. Some of this debt is a leftover from the company’s debt financed, $130 billion purchase of Vodafone’s stake in Verizon Wireless back in 2014. Selling off assets to American Tower for $5 billion hardly made a dent. Some debt also ties back to its C‑band spectrum auction “win” in 2021, which cost the company more than $45 billion. Spectrum remains Verizon’s prized asset, but it’s not enough to overcome its debts.

This makes Verizon dependent on its rich cash flows. The company reported about $135 billion in operating revenue for 2024, with about $37 billion in cash flow and $19.8 billion in free cash flow. Verizon’s annual interest expense alone is around $7 billion. This doesn’t set a great stage for a turnaround and is a big part of the reason for the company’s mass layoffs just before the US Thanksgiving holiday. Classy move.

There’s not much left for Verizon to sell out of its cupboard and only so many heads it can cut to deal with its ugly debt problem.

If you’re a Verizon IT vendor, get ready to feel the squeeze. You can bet a round of contract cancellations are on the way. It would not be the first-time new management in a US telco booted out as many IT players as it could to cut costs.

Private bankers happy, public shareholders not
What’s left of Verizon will be a low-cost wireless brand that offers less value to consumers than its own MVNOs.

This reduced company isn’t suddenly going to care better for its customers. It won’t cater to businesses better as it trims back the IT and employees it needs to do so. And it doesn’t offer a better network than its rivals.

Schulman may have a great track record making investors happy, but which investors is he trying to make happy now? I don’t think it’s the public market.

Private banking interests will benefit most from the finalization of Verizon’s break up. Public shareholders will be left with the brand, debts, spectrum — if that isn’t also sold off — IT expense, and probably a reduced dividend in the not-too-distant future.

Verizon turn-around? It seems doubtful that’s even the plan. The completion of its de-layering and devouring by private money interests looks like a far more likely outcome. Then it’s a question of who buys whatever is left.

A Foods Co. grocery store in south Sacramento will close. This permanent closure will lay off 58 employees. The store on Gerber Road is set to close March 14. The company cited business and economic reasons for this action. Another Foods Co. location in Fresno will also close on the same day.

https://www.sacbee.com/news/local/article314909051.html

https://nypost.com/2026/03/02/business/hbo-max-paramount-set-to-be-combined-into-one-streaming-service-after-hollywood-merger/

6 billion in cost cuts

How will the global supply situation affect our business? With refining already facing tough margins, will this have a trickle down effect for jobs?

From his linkedin post

"AI has sparked a new round of conversation about COBOL, with tools emerging that claim to translate legacy code and, with it, solve the modernization challenge. It is worth being precise about what that means and what it does not."

This framing understates the reality. The modernization challenge was never about translating COBOL syntax—it’s about risk, economics, institutional knowledge, and business logic embedded over decades. AI didn’t suddenly “spark” this conversation; enterprises have been trying automated translation, wrappers, and re-platforming since the 1990s, with mixed results at best.

It says all you need to know that, according to the release, the only Atleos exec or offficer being retained is one independent director.

At least Atleos had an option — because that is more than can be said for Voyix, which managed to transition to a software company right when the market gave up on software. Jim Kelly had no doubt been aiming to sell to Global Payments, but that company’s in the toilet too. (The market has given up on any payment companies that isn’t visa or Mastercard.)

The best option for Voyix is probably to go private, because there is no buyer at this point.

NCR should’ve been broken up 15 years ago, when there were buyers for its businesses.

Now we aren't paying photographers and more. Of course we blame the court. The large brands made a deal...so billions not going to be paid and it's only started
Meanwhile Bloomingdale's alone featuring 35 new brands on 3 floors in. NYC and it's only the start.. Nordstrom also featuring thousands of new items unlike before.