There are ways to save money other than layoffs

Crown is going to save a ton of money by reducing raises and short term incentives and replacing it with long term incentives that don’t fully vest for 3 years. We had a team call today and our VP showed up out of nowhere. We talked about this subject and also layoffs. He said that there are no plans for layoffs at all for our district in 2022 and hopefully the new compensation plan will improve free cash flow so we can avoid layoffs in the future. He went on to say that Crown isn’t in a financial crises but the debt load is high and investors are afraid of it. We need to pay down debt and we need to closely watch the spending plans for our customers since there are grumbling that the big 3 carriers and Dish are quietly reducing their capital spending for 2023.

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I heard the same. The portion of RSU awarded in lieu of a raise will vest in a year. That said, this change isn’t some huge deal. If you make 100k and you were supposed to be awarded the customary 3% raise, its a total of 3k, which broken out over the course of a year would be about 60 dollars a week before taxes. After taxes maybe 40 dollars a week.

The same could be said for the HSA match. After taxes, you’re losing about 15-30 dollars a week.

I know it sucks but that’s the world we live in at Crown. We just have to all decide as individuals whether we can accept that.

For anyone getting RSUs instead of a raise, those RSUs best after one year. They've stated this many times.

I don't want RSUs instead of a raise but don't spread misinformation.

This has been cleared up here many times.

Thread regarding Crown Castle International Corp. layoffs

There are ways to save money other than layoffs

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