Thread regarding Verizon Wireless layoffs

From Matt Ellis during the Q4 readout:

"Our continued focus on our Business Excellence program has resulted in realized cumulative cash savings of $9.5 billion, and we are well positioned to achieve our $10 billion goal ahead of our year-end 2021 target. COVID has brought about new ways of working, and we believe some of these will be long-term in nature. This will create additional savings opportunities beyond the current program."

Translation: We are trying to reduce how much money we spend internally. COVID-19 has shown us new ways to do this by having more people work from home which means no more call centers, reps work from home. And fewer retail stores because more people are shopping online.

Former employee here. Above all else, Verizon is a corporation and it’s top priority is bringing value to shareholders. Learned that a long time ago.

Ultimately, Verizon doesn’t care where or how the phone is bought. Just as long as people are paying for its service. If it is more cost effective to put that on authorized dealers, so be it. So no, Verizon doesn’t really care about frontline employees.

The pandemic has provided the company an opportunity to move on from corporate stores and the overhead related to running them. This was going to happen at some point anyway. Verizon can do this now and not look like corporate pricks in the process.

Yes. Spot on. Hans screwed and distorted Ericsson and he is doing the same thing.