I didn't think it would be like this. If someone had told me that today this company would be in such a bad shape, I wouldn't have believed it. Among the multitude of terrible moves, is it even possible to single out those that did the most damage?
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Overpaying for the Vodafone buyout and not seeing that we would have to overpay for spectrum by not being in the game for Sprint are both multi-billion dollar mistakes.
These new plans may just be the worst decision next to the Vodaphone buyout and the yahoo deal.
What schmuck decided this was a good idea to take away from consumers and raise prices during a recession.
@2igc+1mBJy0tf You say that but also during that time, at least in retail, we worked 3 days for about 5 hours each but was still paid 40 hours a week and full target commission. Who else did that?
I blame this directly on upper management. They destroyed store commission and refused to give Customer Service a real wage increase. When asked about it, they gave an insulting political answer. "We're always looking to evaluate our pay."
Basically no one cares anymore, because they treated their employees as expendable pawns and refused to increase pay in one of the most difficult financial times in history.
Vodaphone buy out was the coffin.
Poor strategy was the last hole dug.
Treating the employees like trash were the nails.
Hans is the hammer nailing it all together.
@khd+1mBJy0tf, most realistic insight on the subject.
This is what happens when the people in a company who do the work look a certain way but you are constantly promoting people that look a different way. The fifteen programs to promote women inside the company is pretty interesting.
Have to agree with assessment that Vodaphone's VZW portion was the biggest mistake. VZ paid $120 billion for Vodaphone's 40% share when the market had already reached saturation. Besides the amount of debt incurred, which VZ has never lowered (sitting at $150b currently), it also then allowed VZ to start offshoring wireless work, leading to poor quality software & losing of best employees.
VZW real estate teams are working hard these days to Cust costs. Pretty much every store in Major cities are being evacuated. Especially in big cities that are being effected by remote workers to coming back to those areas. On the flip side, some cities will see new stores because those residential areas exploded due to remote work.
The employees all look miserable. Coming from a large share holder this is worrisome. I may have to pull out of this company if it doesn't correct its direction soon.
Retired 2 mo’s ago after 30+ yrs. Biggest mistakes were under Lowell’s tenure. Spending billions on so many poor decisions - Vodaphone’s VZW portion, AOL, Yahoo, donating 30 million to his Alma Mater and the biggest jump off the cliff - Hiring Hans and choosing him over Stratton to fulfill Lowell’s fantasy of an international juggernaut. Vz 2.0 is a disaster and the stock price says it all.
We face planted and gave up our lead in everything to the other guys. Was so proud of our pivot at beginning of Covid, putting 115K employees back in the game in less than 2 weeks working from home. But even Christie Pambiachi saw what a disaster Vz had become and bailed for Intel. Still laughing at Craig S’s internal comments to employees in her organization re ”she left to do something she always wanted.” Really??? - Leave a massive job at VZ to go to Intel??? Knew then we were doomed and the Swedish chef was gonna serve total sh-t to the customer’s & employees. The Board of directors are culpable for total negligence - they should have fired Hans after Q1 2022 and are constantly embarrassed at the sh-t show that has become the once great/proud market leader.