Verizon is trying to recover from the outpouring of cash used to buyout Vodaphone ($130B), and the FCC auction (spectrum) purchase ($10B). They've already sold off FiOS territories in California, Texas and Florida to Frontier as well as selling Wireless cell tower superstructure to lease back. Now they've lost the profitable FiOS revenue streams from the territories sold to Frontier. They are selling many buildings (and leasing back) to acquire more cash reserves. Anything that isn't part of the Wireless division is eligible for sale. With this backdrop, they need to cut expenses and personnel are in the cross-hairs. There will be additional and significant reductions in force, starting this month (April).
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its sad, its like a snake eating its tail. the work escalates and we are grossly understaffed. we hear that after the EWA there will be more RIFs.
Way understaffed already and still 46 tech layoffs in PA as of 6/26/15.
My direct group lost one and two other groups we work closely with lost one each. Verizon has no idea what do with the Business division.
1 layoff today
Another message board is reporting the next round of management RIF will be this Thur, 4/9
No reports on layoffs though, it's 4/6/2015