Thread regarding Verizon Communications Inc. layoffs

Got a heads up from my Director new store formats are in the works. Won’t hit immediately but will be part of our next phase. The SM role as we know it is gone. It will transform into more of a AM type role on paper. Reduce stores down to 2 Managers. And Directors will be more like Indirect store managers where they oversee multiple stores and spend more time in stores more like a SM but not as hands on. No more cushy jobs. Basically a lot of the same responsibility without the pay and title for both Directors and SMs. It’s going to be a rough transition and the idea is hopefully some of the top high paid talent will leave or su-k it up and take the pay cut very similar to the one team strategy. The goal is reduce all retail stores and push more traffic to indirect and online. Verizon is willing to take some hits to reduce cost. Verizon has already lost just compare stock prices to T-Mo. This is the liquidation fire sale waive the white flag show them your belly and tuck your tail type strategy. We’re done, the fight is over. Store closures will not be based on volume more based on location and surrounding Verizon doors. If your store does 300 PGAs but lifetime all in have 250 deacts your phone net adds are only 50. Compared to a store that does 200 but will net say 150. Verizon would rather have the indirect take on the cost. The definition of under performing stores has changed to focus on total net phone adds. If you were around during COVID think Covid era type staffing and support. It will be very similar. It will be up to the remaining few employees to user customers to online or AI supported customer service. With little transactions in store so why keep larger stores around you can accomplish that with a kiosk basically why pay the overhead to tell customers to go online or call customer service.