Thread regarding Verizon Communications Inc. layoffs

Interesting card to play considering the sale of wireline assets was a choice made by Lowell and team. And with that, relinquishing any hope of developing high speed fiber out in the West.

I don't really understands Verizon's strategy. Go90 ad revenue and what? Verizon doesn't own wireless network assets, they sold those off too so I don't see 5g as the answer.

More poor decisions and demise is all I see ahead. Sad really, Verizon used to be a good place to work.

"The divestiture is 'costing' the company 40% in lost Wireline revenue."

Sorry for the typos.

I suspect that there was a rif planned for the last pay week in May ....off the books end of June. The company is playing the card that the VZ divestiture of Wireline assets is coming the company 40% in Wireline revenue (lost revenue). I think The union was caught off guard with the "last best offer" and the company was equally caught of guard with the Union calling a strike.

"Cost cuts" mean one thing....RIF's / Layoff's. Those actions have to be postponed and the cost of the strike and new contract will be added to the RIF numbers. I had heard that potential buyers of VES wanted the Union issues settled prior to a sale. The company will want to get to the bare minimum on Wireline....the people you need to keep the business going and the least amount of them.....

The Union should have walked March 1st.....that would have really thrown a Monkey Wrench into the Frontier cut over. As soon as VZ cut over asserts to Ftr.....then the company focused on the Union issues.

@H4MNOsE-usm lots of costs are no longer can no longer be born by the corporate 'pro-rate' which led to the 2015 rifs. Except it was not enough. The company over estimated the savings from shedding the wireline properites. There are still too many in corporate supporting too fee assets. More rifs to come.

More rifs are coming just from overestimating the 'synergy savings' from the Frontier sales. They had hidden a lot of wireless costs that they can't hide in wireline anymore. The number is something like at least another 20% will need to be cut. Good job Barney!

1 hour ago by Anonymous | Post ID: @H4MNOsE-qjx

Can you explain this? Synergy usually happens when something is combined, not when something leaves. Hundreds of offices and thousands of employees went to Frontier. Where is there any synergy in this?

@H4MNOsE-jbu "they saved money on layoffs" is past tense. Not any longer. When you have lawyers and tax accountants being paid time and a half to do a job, that they do not know how to do, that is not a cost savings. Verizon cut so deep that they are no into the bone. They cut their noses off to spite their faces. Now they are scrambling all over the country to find people who will work as techs because their EWA force is not getting the job done. Good job V-team Kool Aid drinkers.

@H4MNOsE-hdx how do you know what he is referring to? You have inside info? They save more money on layoffs and the sale of states where they cut and make money on the sale.

They are running out of things to sell

More rifs are coming just from overestimating the 'synergy savings' from the Frontier sales. They had hidden a lot of wireless costs that they can't hide in wireline anymore. The number is something like at least another 20% will need to be cut. Good job Barney!

The cost reductions he is referring to are the closings of the call centers and the reduction in union benefits. These are already on the books, the strike could delay them.

I certainly think more RIFS are coming. And yes I think the strike is delaying those inevitable RIFS. Imagine while the strike is going on, which is already taxing the non union workforce with EWA's, you go ahead and lay off people too. That would create another layer of chaos.

I know the leadership team could care less about employees, union or non union. But they do care about the stock price. So to preserve the stock price they will wait until the strike ends and then continue with their "cost cutting" AKA firing hard working dedicated Americans.

Considering they are $130 bil in debt with the thought of purchasing Yahoo and go deeper in debt I would have to agree with you. The only way to lower their debt is to cut costs.