#costcutting

Verizon CEO Defends 13,000 Layoffs Amid Market Share Struggles

Verizon’s new CEO, Dan Schulman, has vigorously defended the recent decision to eliminate 13,000 jobs, framing the mass layoffs as an "inevitable" step to save the company from continued decline. In a candid all-hands meeting on December 5, Schulman attributed the telecom giant's struggles to "self-inflicted wounds," including complex promotions and price hikes that have alienated customers and eroded market share.

The drastic workforce reduction, executed in November, was part of a strategy to "simplify" operations and free up capital to improve the customer value proposition. Schulman, who took the helm in October following the ousting of Hans Vestberg, argued that minor cuts would have been insufficient. "If we don’t have enough money to put back into our value proposition to customers, we are going to continue to shrink," he told employees.

The layoffs come at a time when Verizon is grappling with significant performance issues. The company reported a loss of 7,000 postpaid phone customers in the third quarter of 2025, with a churn rate rising to 0.91%. Schulman noted that Verizon has lost 500 to 700 basis points of market share over the last five years. He frankly admitted that customer satisfaction scores are lagging behind competitors like T-Mobile, a situation exacerbated by price increases that have "irritated" subscribers.

Verizon's job cuts were a major contributor to a spike in unemployment within the telecommunications sector. According to data from Challenger, Gray, & Christmas, the industry saw over 15,000 job cuts in November alone—the highest monthly total since April 2020. This move aligns with a broader trend of workforce reductions across the U.S., where job cuts surpassed 1.1 million for the year, with the tech and telecom sectors being particularly hard hit.

https://www.thestreet.com/retail/verizon-ceo-reveals-mistakes-that-led-to-over-13000-layoffs

do a a quick google search, multiple articles released today. Feels like they are easing into what’s to come.

Corporate teams just spin papers, PowerPoint and wage a lot of time in meetings
Look at all failed product launches, marketing initiatives, strategic bs, bad acquisitions.
Yet its regions who have to pay the price

You either bring people who can do the work to where it is, or the work will go to where the people who can do it are.

Well, another Edward Jones long standing tradition has met it's end.

Regional award ceremonies will now be conducted during a week day morning instead of a nice ceremony where you can bring a spouse.

Maybe its too expensive now for the little people to be honored? Wonder if TAP trips are next?

I get that losing the WB bid shouldn't technically touch us, but with this leadership I can't shake the feeling they'll react by doubling down on cost cutting and trimming more people than they originally meant to. Maybe it's paranoia, but when big egos take a hit, they usually find someone else to pay for it.

It felt good. Really good. I know of three friends doing the same from the layoffs. Total lines are 26 leaving. The bill becomes untenable. Twice the price for the same customer service. Same overseas reps too. DPAs are paid too. No commitment. Just pay the final bill.

Manufacturing and mining-related industries are becoming riskier as companies reduce costs and adjust production.

There’s no real plan. Just cutting into oblivion won’t magically make the company better, more efficient, or more profitable. And no, AI can’t replace people, unless someone is aiming for an epic fail.

Will not specify what departments but Sr. Managers have the picks and HR has been notified. Also for next year we have operational changes and more business consolidation, a plan to cut 5% of the workforce for cost savings is in discussion. I hate this part of my job and this is how I vent. Im sorry

AT&T’s latest office shuffle in San Antonio is fueling speculation about the future of its downtown Dallas headquarters.

The telecommunications giant confirmed it will vacate its office at 1010 N. St. Mary’s Street in San Antonio and relocate to the city’s West Side, according to the San Antonio Business Journal article published September 29.

The move will leave about 400,000 square feet vacant in the city’s downtown office market, which has already been weakened by recent corporate exits.

Sources familiar with the transaction told the San Antonio Business Journal that AT&T signed a deal last week to occupy more than 100,000 square feet at The Reserve at Westover Hills, a suburban complex that had been largely empty since 2021.

Grok Avaya Update December 2025
-- Quoting a November 2025 discussion board that details about 19 U.S.-based cuts on November 17, attributed to leadership decisions and talent exodus in sales and design teams.
-- Avaya, a communications software firm, has executed multiple workforce reductions in 2025, including voluntary exit packages in September and over 30% staff cuts at its India hub in October, amid restructuring post-2023 bankruptcy
-- A separate Union-employee specific layoff announcement from October targets an unspecified number effective December 8, 2025, reflecting ongoing cost pressures in the #cloud and #AI-driven tech sector despite $1 billion annual revenue.

The heading says it all

Newell Brands will cut 900 jobs, or 3.8% of its global workforce, and take up to $90 million in restructuring charges, the Sharpie maker said on Monday.

The company will also close about 20 Yankee Candle stores in the U.S. and Canada, collectively representing roughly 1% of brand sales of the scented candles, by January next year.

https://www.reuters.com/business/retail-consumer/sharpie-maker-newell-brands-to-cut-900-jobs-take-up-90-million-charges-2025-12-01/

Corporate office here. Our team cancelled our Holiday Party due to budgetary concerns after our recent acquisitions. Has anyone else experienced this issue?

My manager has confirmed that “performance layoffs” will be implemented if the launch of Goosehead’s new AI Lily is successful. That’s why everyone in service was written up for something, to set the scene for firings that are designed to cut costs. That’s also why RTO is slated for February, to cut more staff. Charl Lombard and his McKinsey ilk are behind this nonsense, thinking that hold times will be improved by Lily and then they can cull the flock. Yeah, we’ll see

I thought dan was trying to cut costs?

They act like loyalty is optional and cost cutting is the only strategy. It’s demoralizing to know someone cheaper is always lining up for your job.

https://www.freepressjournal.in/tech/nasscom-foundation-and-ibm-partner-to-skill-87000-underserved-youth

A.I. saves money. Hourly rates are lower.

BoA downgrade, split company.

Expect more layoffs in December.

The ship is sinking mates.

ABN AMRO plans to cut 5,200 full-time jobs by 2028, it said on Tuesday, as the Dutch bank seeks to deliver on its cost-cutting promises and focus on its core businesses.

The reduction, equal to more than a fifth of the lender's workforce, will affect all business areas, including recently acquired Hauck Aufhäuser
Lampe and NIBC Bank, CEO Marguerite Bérard told Reuters.

If you can’t already tell. CIO is under increased scrutiny for headcount. They are looking to reduce costs/headcount by 10% across all CIO pillars for 2026 and achieve something called “reimagine work “ by 2027? I’m not sure what reimagine work is but doesn’t sound good. Especially if it’s following a goal to reduce costs.

It is now new tactics to save money. Giving forced NS to senior person and lay him off without giving any severance package. Thus company is saving money.This is new trend in visa

Cant believe how poor the Management and Shareholders are in this company.

I could turn the situation around easily, spin off the insurance to Private Equity or IPO for $2billion, which will pay off all the debt.

Your left with a cash company generating Free Cash Flow of $400 million with no debt on a PE of 20 thats $8 Billion= $48 per share.

I would not hire any new folks, natural wastage would get rid of 20% of the workforce in the year, i would get rid of the several layers of management, the existing employees would retrain if they were offered a good pay incentive, FCF would rise to $450 milion, another $10+ on the share price to $60, then get some bolt on Acquisitions.

If Fernandez isnt going to grow the Company this is about to happen soon.

And push as many of us out as they can along the way. Anyone who thinks this is about anything other than maximizing profits by getting rid of people on the cheap is being naive.

It’d be great to see the real numbers. Anyone who’s actually used AI knows it’s nowhere near reliable enough to replace human work outright. And yet we keep hearing that “AI-driven layoffs” are the future, when most reports say many of those jobs aren’t being replaced at all, or they’re being sent offshore. It feels like nothing more than old-school cost cutting dressed up as innovation. At the end of the day, it’s plain greed and leadership completely out of touch with the people who actually keep the place running.

The way the company is being run is unsustainable and frankly, deeply disappointing. Chris Cartwright has 100% bought into this ba----dized form of capitalism in America where shareholder value is the benchmark of success and nothing more.

There is no concern or respect for the employees, the single concern is profit and profit margin, but only for shareholders.

We continue layoffs despite being highly profitable and overachieving in regard to our forecast. We continue to have our resources and tools stripped away in attempts to save cost. The expectation then falls to the remaining employees to do more with less. The real economy (food prices, healthcare costs, childcare) is in recession due to rapid inflation and heading toward depression, yet employee pay has not even remotely kept up with rising real life costs.

Additionally, we are currently launching a platform for fraud prevention that is embarrassingly underdeveloped due to a lack of resources in software, developers, and engineers. This project is being spearheaded by an Advisor who is so blinded by career ambition that their lazer focus is on getting the product launched, so that they can receive the accolades and career advancement that comes with such success, but this Advisor seems unable to see that they are driving the launch of a product that is simply not ready to face customers. This lack of foresight is common here and I believe it’s because those affected are the boots on the ground employees who’s workloads and expectations continue to rise, but those in managerial or advisor positions do not have to feel the day-to-day impact of this approach.

To continue, every idea comes from the top down. The voices of the frontline employees are often ignored. Live training is avoided at all costs, even when it is explicitly requested or the need expressed. In fact, employees are often condescended to with responses like, “we encourage you to be more proactive in your training” and explore other resources such as a wiki page; suggesting that as if it weren’t a grossly false equivalency. In addition, the responsibility is placed on frontline level employees to document and log every single action that that is taken. There seems to have been very minimal effort on the part of management to figure out and implement a way to track employee productivity that is more comprehensive than insisting that their employees take the time and effort to not only do the work, but then log their work so that management doesn’t have to take the time and energy to do so. All of this despite a strong push for increased efficiency. Does no one in leadership or management see how this looks to the average employee? It is so ridiculous that it’s laughable—and believe me, employees are laughing amongst one another because it’s either that or cry.

Moreover, the current climate in this country has not adequately been addressed by TransUnion leadership or HR. There are ICE body snatchers out in this country, the epicenter of which is Chicago at the moment, and the silence from this organization is deafening. Violence is occurring in this company’s front yard, but not one individual in leadership has had the courage to acknowledge it; no emails with resources for what employees should do should they be illegally detained, No support for our colleagues who may be targeted simply for how they look, nothing.

Cartwright and Venkat are displaying for every employee how ethically and morally bankrupt this organization is with the two of them at the helm.

It’s embarrassing and it is despicable.

One of Oracles major downfalls is when they outsourced to JLL. Oracle, DW thought it would be a great cost cutting measure , when I fact JLL is doubling the price of everything they do for Oracle. Our buildings are literally falling apart inside and out. Such a shame.. Peace and love all.. Try and enjoy the holidays all that matters is family..

Crystal Dynamics has been hit by another round of layoffs. The cuts r due to restructuring and cost reductions. More to come.

Any insight on what this message means?

"[We will be] initiating a two-year, $200M "cost-out" program that simplifies our matrix, improves agility and decision-making speed and enables greater investments in growth of New BD."

From an early morning meeting today, looks like the IT Staff Engineers are on borrowed time. GM is looking to eliminate the position and pass their work duties on to other employees in an effort to save more money. Probably some d-mb idea to send more money to the California Innovation Center payroll.

Another great SLT decision.

I can’t wait until the SLT decides to eliminate the bathroom cleaners to save money.

Got an email earlier today saying I got laid off. I’ve been here for 4 years. 4 years loyal to this company and they just fire me like that? It feels like there is no reason for them to let me go aside from cutting cost. I’ve sacrificed so much for this company and they decided to say my work is worthless.

(Repost - the original got nixed, probably because the rest of the post contained foul language)

Petty? Yes. Hear me out though.

My 1 line, phone and watch was running up the score gradually on my bill. About $98 a month or so. Without the employer discount, my bill is now going to be $170! Give me a break. Even if there's no magical ethical carrier, stop giving your money to this corporation.

Was anyone else spoken to about the new policy under Athena that work from
Home employees are not eligible for promotions or to even get new roles?. So essentially we are stuck unless we want to move close enough to one of the 6 designated hubs in North America. Another way for Pepsi to save $ in hopes that we leave willingly instead of firing us and having to pay severance. This is getting old

You will be laid off asap because your function can and will be done elsewhere for less cost.

Show me one thing good that has come from sending jobs to India besides the cost of labor.....it isn't innovation. You all lying to yourselves. Goodluck with that.

That is what has been happening every single time. Great people with plenty of experience and institutional knowledge get kicked out. I never understood how that can be considered a good business strategy. I know they want to cut costs, but when you get rid of one person who then has to be replaced by two or three people to do the same job, how is that cheaper?

Market has rejected Dan's plan. Its been a week since they announced 15K layoffs, the stock hasnt moved an inch. Could be a signal that market is anticipating further deterioration at the expense of cost reduction.

Northern needs to take a hard look as to why they keep so many employees in chicago… major expense reduction can be realized by moving those administrative jobs to lower cost locations

Just a heads-up, Compucom did another mass layoff last week. The company is massively struggling as they cant seem to get stable against competors who want to win their contracts. With their AI claims not actually coming to fruition (nothing is active) and their FLO charting system just being PowerBi reskinned... Basically all of last year was a bust, everything they have and their endeavors are all smoke and the leadership can't figure out how to right the ship with India teams as their main provider at this point while they retired while employed. Maybe next year.