What do you get when you spend billions on questionable purchases and have poor earnings? More layoffs and RIFS!
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Both the AOL and Yahoo acquisitions are just going to be throw away acquisitions, like the Terremark disaster. Over time, these businesses will lose all the valuable people and the leftovers will hang on as long as they can. After the next strike, they will all get RIF'd too. Then, VZ will decide not to fork over capital and the businesses will eventually collapse. It's part of the VZ playbook Making up bogus positions is another VZ trend, like the Corporate CMO position. They had this position before and eliminated it because it was ineffective. It was opened up again and filled with an expert from the retail sector, a dying business. Wouldn't you want to get a CMO with expert credentials and a great track record from a relevant industry? With expenses overrunning this quarter and no meaningful growth opportunities in sight, some of these senior leadership positions should be eliminated. Bloated programs like the Six Sigma full employment act need to go at this point, too. These provide no measurable benefit, only salary expense. You need to have a better quarter in the Fall, or some senior leaders need to move on.
Not everyone thinks this is a great win for Verizon:
http://seekingalpha.com/article/3991152-stay-away-verizon
There was a 5% decline in Revenue announced on today's earnings release. Did it come from Wireless or Wireline? Well, Now you know why Wireline needs to go. Operating expenses are not really one-time as suggested, they are still stuck with a stranded work force and never ending excuses for expensive overtime. The landline segment needs to go, it is s---ing valuable cash and producing a low return on assets. Give that gifted workforce to someone else.
Sweet, bye bye Yahoooooooooooooo!!!!