Company posted
n 2018, Verizon announced a goal to achieve $10 billion in cumulative cash savings by the end of 2021. This initiative has yielded $8.3 billion of cumulative cash savings since the program began and is on track to achieve its target. The company expects to continue its focus on operational efficiencies after the current target is achieved to identify additional long-term transformation initiatives and deliver the related cost savings.
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30 to 40 % of H1Bs are fake experienced . Wipro did back ground check ; layoff several employees few years ago.
There were job loses today. last month they quietly riffed tenured employees with higher salaries. Today they did service and other operationally important roles.
Hired as an employee? No. But definitely brought on many as contractors.
This is total BS FULL STOP!
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VZ ‘s goal is to offshore or H1B as many positions as possible, full stop. Don’t let any cost saving targets being met fool you. Anyone they can jettison to save a buck and line executive and share holder pockets they will.
Your best bet is to keep your resume up to date and look out for #1.
2 days ago by Anonymous
| 21 reactions (+17/-4)
Post ID: @1hcy+17xXL2Wz "
The Holidays are right around the corner. The Holidays always = RIF
Get it through your heads - RIFs occur every year, Only once in the past 15 years have there been no RIFs. The RIF is a way of life in VZ. Guard your salary, don't accept that raise unless you want that bullseye on your back.
If Hans = CEO; rift=yes
VZ ‘s goal is to offshore or H1B as many positions as possible, full stop. Don’t let any cost saving targets being met fool you. Anyone they can jettison to save a buck and line executive and share holder pockets they will.
Your best bet is to keep your resume up to date and look out for #1.
Testing
Excerpt from Seeking Alpha article Verizon: Not Going Anywhere Fast
The problem here is that Verizon is spending up to $20 billion annually in order to build additional capacity and upgrade the network speed. The inability of the large wireless telecoms to generate additional revenue for the higher usage is a big part of the problem with the stock.
The latest comment from CEO Hans Vestburg in CNBC is even more problematic. His statement suggests the recently released nationwide 5G coverage of 200 million people really isn't more than glorified 4G LTE. Verizon is using a technology called Dynamic Spectrum Sharing, or DSS, which essentially allows cell towers to use the existing LTE network to run 5G networks at the same time.
The stock just isn't going to rise until Verizon can figure out how to generate higher revenues from subscribers using additional data and capacity. Verizon hasn't had a quarter with revenues growing in excess of 2% going back to Q3'18.
Of course there will be RIFs. The only question is "How many?".
Yea, don’t bet on it. Ve has done this several times in the past. Tell company people everything is looking Rosie. Then wham within a week major RIFs. Heartless company...do as I say, not as I do mentality thru C suite.
Great job. No RIFs by our socially conscious company would be welcomed especially during a pandemic.
Unless the extra $1.7B over 3 months is expected to come from RIFs.