Its not over... even for those that survive this round. Keep your resumes and profiles updated and possibly, start looking.
Dan is the true hatchet man and only cares about the bottom line. He's gonna squeeze that extra $0.50 per share out come he-l or high water.
Stay strong people...
So is the cut nearly one third of the workforce? Wow
Telecom carriers (TMO, AT&T in particular) have used annual recurring layoffs as a means to trim staff (i.e., obsolete orgs., under performers. Etc.). That's not what's occurring right now at Verizon but could possibly be instituted to keep up with the competition.
It's definitely not over... More to come after this one. Remember the Frontier deal will bring even more employees, so the head count will go up again.. They will need to trim again. I doubt they will do a VSP because it cost them more.. RIFs is better for them.. Watch and see.
@a5 Yep, that is what I heard. 30% was always the goal. They're just slashing 15% right now and let things settle out, then will cut more until they ultimately achieve that 30% goal.
Sounds like everyone needs to leave this sh-t company. No one is safe it seems especially with this new dude in place.
This! I’ve heard from multiple sources that it will be an additional 5k cut in January / Q1 and another10k through the remainder of 2026 resulting in a total of 30k / 30% of Verizon’s HC cut after all is said and done. Whether the remaining cuts will be done through RIFs or a combination of RIFs and VSP is anyone’s guess but this apparently is only the beginning.