I very much disagree with how they approached the problem, the speed, the choices, etc. but at the same time I guarantee you that 90% of Wireless folks would agree that something had to be done. Look at the Areas, Regions, layers, and more layers of management, decision makers, directors without responsibilities, VPs with a handful of direct reports, all excesses and disregard for financial discipline. This was sustainable due to our margins, and we had healthy margins. Yet, the suits in the ivory tower know that the party is over, there is more and more competition going after our margins, the pressure is building up and it will reach an inflection point min Q2 or Q3 of 2016. That's why they moved now and the axe they dropped on us was sharp and heavy. I know that nothing said here will help folks who were let go, many of my close and not-so-close friends were let go yesterday, however I felt I had to provide my view here. Good luck and God bless.
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I agree. We have thought for a long time that there was too many managers. I agree with what they did. Even though I would rather have my job still. Been there 16 almost 17 years. I hate that many talented people lost their jobs.
Verizon doing damage control by putting up with this non-sense of “Had to be done”..what a looser , go tell this to a dedicated employee who worked 5 days straight during Sandy storm sleeping in conference room only to make sure that Verizon cell towers don’t go out of service, and this is how Verizon return the favor by laying off the same employee…..Shame on you Verizon for not standing up for the employee who stood up for you
They didn't have to do this. Could have had a hiring freeze and let natural attrition take its place. Or better yet, how about folks that are already rich not take a multi million dollar bonus?
A complete failure of leadership in the investment decisions, planning, allowing reckless hiring, etc. Why did they allow so much fat to accumulate. Why were they not allow attrition to balance for the changing market conditions? Why did they allow HR to refill the open positions until few days ago? This is complete disrespect for human capital and treating the families and employees as an inventory of lifeless goods - and applying supply/demand principles. They could have been handled this situation much more gracefully given that they are still in positive margins and need for a drastic cut in a single quarter is not warranted.
What a joke. You really buy the company line that this had to be done? Total BS. The company is making money. CEO and CHOOSE making tens of billions, stock holders making money. But yeah your right my 45,000 job had to be cut to cut the fat off. Whoever you are need to take your head out of you know where. Don't be surprised when your next.
The package was pretry good!
Oh, please spare me from this lament