The worker bees, who had zero to do with the terrible decisions, get cut. Meanwhile the ivory tower people keep laughing all the way to the bank. If the masses ever figure out that the ol' left/right, union/non union "divide and conquer" routine has been played on them for 40+ years, then we might make some progress.
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When Verizon had 135,000 employees, they had 280 VPs and above. Now that they have 100,000 (before 13K axed Thursday), they still have 275 VPs and above. The executive suite never gets smaller -- only gets richer and richer -- while the real workers of Verizon pay the price. It's much like the American economy, not to get political.
@ck I’m not sure the origin of the execs has any relevance. All the tech companies and telcos are shedding people. Verizon still has probably 30,000 too many people. So get used to it, whatever the nationality of our leaders it will keep on. It’s just economics….
Things will change... they will get worse. Been a 40 year employee with a frintbrow seat to Cultures, Strikes and Success. The fabric was based on meritocracy and teamwork all centered on Customers
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The combination of inept European Executives to lead and compete in a USA market and realize Vz is not now or ever be an international company.
Vz HR lead DEI culture has planted thiusands of hires into the daily operations.
Merit to a few but front line results tvat I personally have seen is nothing short of hiding behind Powerpoints.
Vz will be aquired in the future much likr failed MCI was.
If Verizon continues to outsource then all this is moot. Dan is just trying to take temporary measures to try and increase the stock price before he leaves
It's more than just the Board of Directors at fault for Verizon's demise.
The whole company culture became anti-customer which needs to be at every level of the company.
It's much worse than you can imagine because Verizon has become very insulator and is badly in need of a top-to-bottom shakeup.
Reducing headcount reduces opex. It's the easiest way to increase a company's "value".
@aa To be honest, I don’t even want to see Elon’s name mentioned on this site at all. We watched people legit whine for a month about leadership not being empathetic and loyalty blah blah blah. If Hans or Dan’s decisions were too much for people, 98% of people working at Verizon could not take an Elon work culture.
I think Elon is busy building robots, and trying to save the cybertruck.
Hot take. Verizon can continue to bleed, and cut employees 15k employees every couple years or it could sell to Elon now. He would cut at-least 30k employees and reinvest the savings in network upgrades that hopefully change negative network perception .
Totally agree. Both the executive Board and the Board itself are totally complicit and guilty. They made the decisions that got us where we are today. They need to be held to account. End.