It's like we are having monthly layoffs now. Why can't they decide who they want to cut and then do it all at once? Going little by little is destroying my nerves and is definitely not helping my (or any of my coworkers') productivity. I need to go back to not worrying about layoffs every few weeks.
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Having worked for CCI small cells for years you had to have an idea that this day would be coming. The math just does not add up. Monthly rental rates have fallen from $650+ down towrds $250/mnth. How can you offer carrier #1 a deal where they only pay 1/3rd... then no other carriers colo. ATT and VZW in 2019 played their hand that they want their own node - they can't share them do to their 4G/5G needs. So CCI can build TMO nodes w/no lease up only for so long. Jay tries to sell the investment community a rosey picture that colocation is increasing but in reality CCI is not getting new contracts to expand their small cell footprint. On top of those issues the fiber team under-runs their estimates and over misses their forecasts. I had over 250-nodes built w/no fiber waiting to get my LCDs submitted to trigger rent when I had left. Maybe if they let go class A office buildings, free coffee and snacks and focus on keeping a good team together vs layoffs they coul turn this thing around. If you made it past the 2020 cuts - be on notice 2021 is your chopping block so use your time wisely to find your next home before you too get surprised.
Crown Castle is the episode of survivor series where they blindside hardworking people.
Crown Castle used to be a company where one would be proud to be employed. Not anymore. They prop up B3 values and ethics, but people can tell you that many of these legacy Crown managers are only in it for themselves and to support each other when the going gets tough. They will just be re-titled or shuffled off to a new team. Does the EMT or Board not see this??? Management has proven they even doubt their own decision making based on all the moves they have made after being publicly pressured by Elliot Management. Honestly, you can't blame all of this on covid. Does anyone know a single person who has given up their cell phone, ever? Yet CCI stock for years has lagged behind our competitors AMT & SBAC, by a lot in fact. While employees and investors drink the kool-aide that is generously poured out on earnings calls and internal communications. Crown will bide their time and follow the suggestion of Elliot and find a way to correct the mismanagement of the fiber acquisitions. Top heavy management. Where are the cuts??? Why no communication from the board, Jay Brown or other executives? Terrible optics, but I'm sure things will look rosey from the windows of the new HQ being built in Houston...they don't dare skimp on something like that, even though we are asked regularly to treat the business as an owner. Do as I say, not as I do.
EMT is invisible these days and when they do get rid of someone, like Jim Young, it comes attached to a golden parachute. Good luck to the rest of us even getting severance. Why have they not reduced more "leaders/directors/vp's if business is so bad, aren't those decision makers at least partly to blame for thus mess. And why has nobody in leadership been held accountable from the poor investments in SC & Fiber or the disaster restructuring of the tower business in early 2020. Zero accountability.
Leaders getting downsized? Not at Crown Castle, they could get rid of 1/2 of the leadership around here and no one would notice, I have no idea what some of the leadership does here except collect a massive paycheck while the worker bees around here get downsized.
Yes and the fact that the EMT have disappeared from the face of the earth makes it very worrying. In a matter for two years we went from a family like company to a bottom of the barrel corporation. If things are so dire why isn't anyone in leadership on the chopping block?