Every single one brings layoffs. Somehow roles which have nothing to do with it are always classified as redundant (I've seen it happen again and again) and people are kicked out. Every single time it's used as an excuse to get rid of good, hardworking people.
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They have to in order to prove to shareholders that savings through synergies they promised are happening, when in fact many of the synergies never happened so they just figure out other ways to cut headcount.
A little common sense goes a long way.
Nobody sees the warning signs until they become obvious.
Decisions have consequences, especially when you ignore the obvious.
You can call it whatever you want, but the writing is on the wall
@ys Here we go again, the warning isn’t NYSE → Nasdaq—it’s the $1B cost-cutting target for 2027. If the company plan includes payroll reductions, that directly puts more jobs at risk.
So long to the New York Stock Exchange
This isn't just Lumen. Even a small Mom and Pops businesses in your town practice this.
It doesn't sound fair but that's business.
When the company acquires another company. There're always a duplicate positions. A normal practice is to remove to stream line the workforce. A lot of the executive positions are also removed.
1/3 of Lumen debt is floating rate. When interest rates rise and they refinance the other 2/3s long term debt in 3-4 years, they'll be in default, liquidated and closed down if the US keeps raising interest rates. There is no stopping that because of larger geopolitical strategy.
They overpaid Level 3 shareholders, but its easy to see why. They took over, ran the business into the ground by not investing in lower maintenance technology and squeezed workers to save on benefits and lost customers they thought they could fool by promises they intended to break, then change the name and sell those assets.
Higher consumer prices have followed as main street ultimately pays the debt. The bond market will have the final say. Every executive at Lumen will be retired and golden parachuted out before it ends. That's why renegotiating debt covenants is huge for the current operators.
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