Pretty much just live 10/26 (Today). Very little will change tomorrow within Verizon. The one thing that needs to change will not happen, you can count in it too! And that would be the CEO of Verizon to step down. Short of a miracle, when we all wake up and go to to work on 10/28 it will look very much the same as 10/27 and in most cases zero will have changed.
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@Ryjv+1joERnYv not the worst payout. In the last 12 years there have been 3 payouts less than 85%, the most recent in 2017.
The worst STI payout ever in history of Verizon. 75-85%. This is disgusting. The worst CEO in history of Verizon. Also, lost tons of customer putting political views as well out there. Shame on you. U took down Erricson now Verizon. You should just quit before the board fires you.
I have asked why from Day 1! It is sad to watch him tear apart what many of us have worked hard to accomplish and took pride in those accomplishments. I will not pass up a package if ever offered again!
Hans Vestberg started his telecom career at network equipment giant Ericsson in the early 1990s. He worked his way up through the Swedish company’s ranks until, in 2010, he became the vendor’s first CEO who didn’t have a background in engineering.
But Ericsson ejected Vestberg in 2016 following a string of poor financial results and a slide in the company’s share price.
Article from Urgent Communications
This was not because of low performance. I was impacted many people I know were impacted. I was one of the top performers on my team as were the others. Some were older (55+) and been with the company for 15+ years. Some were younger (<40) with 5 years or less with the company. By all signs it looks to be consolidation. Yes there were bad performers let go. But I can also tell you bad performers in my org were also kept and people are left scratching their heads as to why they were kept. I am being optimistic that this will be a blessing. I hope the same for everyone else that is in my same position. No one knows why others than those in HR and if people are telling they know, the have no freaking clue.
Verizon is the company where great IT/Engineering people go to die (literally). The company can't develop or build anything! Who on earth sells a cloud business just when cloud starts to bo-m? Han's is all focused on 4/5G thus leaving the wireline people thinking "what is our future". Plus let's not talk about how HR treated people over the jab. Go woke go broke!
It had nothing to do with low performance. It was about cost cutting. The company posted 50 billion in profit In the 3rd quarter. Just corporate greed!
Maybe if Hans and Executive team didn’t spend their corporate money on Canada Goose $1200 jackets that they have flaunted on CNBC and internal AHC with the Verizon logo, maybe this didn’t need to happen. Nah, they’ll keep going. He’s European and doesn’t get it. It’s going to be a cold winter. Thank god he has an $1200 Canada Goose jacket to keep him warm.
Working at Verizon we all drink the kool-aid and are genrally proud of our organization. Yesterday, hard working, loyal people, across the board - great performers as well as not so great performers alike were hit. Front-line sales support, like out engineers, somed of whom are over 55 and have been with teh company for decades,, and are top performers got hit as well. The impact is felt by all of us. Our hearts go out to those who were told they have about 2 months to find another role or leave the company... Anyone seeking great employees, know that Verizon just let go of some true superstars!
@1mba+1joERnYv I was in GNT and went 3 years with a "developing" rating. I was the only person out of a team of about 100 people who was laid off.
Performance is clearly a deciding factor. I doubt anybody else in my group achieved such poor performance, and none were let go.
Today we lost 3 workers! And I will say all 3 were horrible workers! We are glad to see them go! They were low performers, never got their work in on time and constantly blamed others for their missed deadlines. I worked side by side with one of the 3 and I will say this - THANK THE LOVE OF GOD HE IS GONE!!!! The other 2 I had a lot of dealings with and I have this to say - THANK THE LOVE OF GOD THOSE 2 ARE GONE!
Those 3 were nothing but a yoke around our necks! Bluntly put, our jobs just improved now that they are GONE!
People keep saying low performance or performance does not understand. This process is done by 3rd parties internally and externally with NDA. Only HR knows the whole way and HR does not know of performance. This looks like job consolidation or duplicity or organizations that serves little purpose or segments not performing. There are very well paid CPs in our company on investment that were let go, CP titles and pay. What about WLN? We have Buss and security teams that aren't as valuable anymore.. It is sad but when VZ makes 8K in subs will tmo and att logs 700k, some of these roles might not make sense. Best of luck to those impacted.
We lost a few people today ok the GNT side of the business, not due to low performance.
Heard 2000 people, 700 in CMO world, and 1300 in business. Not just low performers, consolidation of jobs. Last day is 12/31/22.
no one laid off today in my group.. or any group that I deal with. Looks like layoffs were targeted to very low performers only, which is the way it should be. If you don't do your job you need to be shown the door.
Wow, what spectrum did Verizon buy that put them in the ho-e $60 billion?
It's amazing how the strategy & execution are failing, but the people (i.e. the failures) who lead the company are the ones that get to stay and keep failing.
Meanwhile, the individual contributors (ICs) get axed... and probably the same ICs who told the failures (i.e. "leaders") that they should take a different path.
No worries... those "leaders" will use the former employees' ideas to stick around sucking on the big corporate teet.
Hans, Manon, and KB all have to go. But sadly, their “leadership” will continue to gut this company until it is a shell of its former self.
Who led the charge for awful Retail denim uniforms? Who led the initiative to eliminate individual quotas and commission in Retail that resulted in lost sales?
We should refocus on Hum and Home Phone connect to save our company. And Go90, bring that back too.
Maybe we should go another $60 billion in debt to buy more worthless spectrum that we cannot use to boost reliability.
Please Hans, tell us more about how being agile and laser-focused is a winning strategy.
Yeah I agree! The thing that needs to change will not i.e. a new CEO.