Thread regarding Verizon Wireless layoffs

Like buddy said.... Hans happened...

A series of bad decisions made at the senior level:

• Attempt to become a content provider.
• Offer VSP to the most experienced employees.
• Move majority of IT development to low quality offshore providers.
• Move to team commission structure.
• Not aggressive enough in pursuing spectrum at earlier auctions/pursuing Sprint spectrum.

Investors, employees, and the BOD should expect better.

Hans Vestberg happened to this company.

@1gvw+197e86dk The point is corporate locations are sought out by customers and are significantly busier than indirects. Obviously there are way more indirect stores but they stay dead.

Retail in general is on the way out. But as you must know, indirect reps are worse in regards to slamming and bad customer experience. This has and will continue to affect the brand.

@1esd+197e86dk Dude you do realize that only 20 % of all Verizon locations out there are corporate ones right ? So that culling comment is inaccurate even though I know what point you were trying to make.

I started around the same time as you @vcg+197e86dk. Made a ton of commission and started seeing the writing on the wall. No more rya, heavy hitter recognition, or really any individual recognition. Stuck it out for awhile but realized they just want clerks now. Really they just don’t want corporate retail anymore. But the reason corporate stores are busier than indirect is because customers want premium experience/service with their “premium” network. The execs will start to feel that as they continue on with their culling of stores.

What are the 6 people? I don't get that reference.

I would just like to state that I’m totally against the “6 useful id–ts”.:. While agreeing that the face value of these acquisitions are overpriced, there is shady steam of revenue being made through the selling of metadata to third parties. I just hope the revenue can cover the interest which is something these corporate brain children cannot comprehend. They are just on a constant piggyback ride

I forgot to add. After all these major acquisitions and hiring of important people...there were layoffs each time.

Verizon seems to mismanage their funds. A. Lot.

I have been with the company going on 6 years which compared to my co-workers makes me one of the more tenured. This has no bearing on anything other than just a point of reference.

When I first started..we had a clear and concise message with what Verizon's direction was and where we were headed. At the time it was Go90. While Go90 was garbage - it was a clear direction. We wanted to go in the direction of content creation. We hired a few old disney executives....and did nothing with it.

Then there was the Yahoo/aol acquisition...nothing
Then tracfone (ok this one is more useful)..but still a big expenditure..
And theres a few others I can't think off hand.

It feels like with this new ceo and direction...we have no direction.
We have no clear picture of what our direction is.
As a retail rep..I feel like I'm running around with my head cut off. I'm one of the top performers of my store, making less money in recent years than ever before.. and I'm beginning to see value in my tuition assistance, benefits, and other things I took for granted in the past.

This is not hard to figure out. Years of arrogance regarding network quality and charging a premium for that. Then you base your business operations and dividend on this overinflated revenue and growth. Building expensive fancy retail stores and having a heavy marketing budget to spread your lies to the world.

And then the growth stops and people find out your competitors networks really are not that bad for a lower price. And these happen at the same time. Yikes...