New beginnings.... New ways to do business.... And other such crap on the offing. Head count movement on the VES side mentioned as well, associate and management.
Have the chickens finally come home to roost?!?
7 replies (most recent on top)
The Global Wholesale business is a real winner, too. VZ connects competitors like ATT, Sprint, CenturyLink to business customers in the VZ footprint. What a great way to lose more market share. The Product Development team should try to develop a 'brain' that can make cogent decisions, because the management team pushing this service Is not using their head.
VES AKA MCI was another loser along with their managers. What a scam. Verizon should have never let them out of bankruptcy, let alone buy them. This will make a great story one day when someone writes the history of how the company stole defeat from the jaws of victory. Talk about "Broadbandits"
VES is a waste of time and resources. Renewing no margin contracts with multinational, corporate and SMB accounts makes no sense. The Sales team deserves an Emmy for pretending they actually "sell" services and solutions. Actually, they only renew contracts and collude with customers to lower prices and screw Verizon. What an awful business, what joker thought that this would be a good acquisition? Probably the team that gets paid for doing acquisitions... Very dysfunctional.
Good point, these idiots have levered up the company to unhealthy levels. That is more or less the place where it was before they were compelled to buy out Vodafone. Now they have borrowed against almost every asset. When the rates go up and the economy crashes, the company will be in trouble. That is also why Shamwow is getting out now.
Company is in dire straights. With billions in sales, you think we could be run just a little better. Nah, these clowns ride out the rodeo and then leave when show is over. Which aint gonna be long at this pace.
@zsp: According to the following web-site, Verizon's total liability was over $228B in February 2016. I'm sure it much worse now with little chance of improvement in sight.
http://www.investopedia.com/articles/active-trading/022916/analyzing-verizons-debt-ratios-2016-vz.asp
OP - Ask yourself this: Is Verizon really sustainable as a business the way things are running now?
Verizon has not had a good quarter this year. This is way too much bloat in this organization not to mention worthless retail stores that are no longer relevant. Everyone's jumping ship to telematics which is crap and a pipe dream.
MVNO's are king in this new era of wireless commoditization and Verizon can't compete with its management heavy, union burdened structure.
Wireline is no longer a consumer product, but instead relegated to running things behind the scenes at a tremendous infrastructure cost.
Verizon spends billions on old tech companies trying to reinvent itself to no avail adding to its pile of debt over a $100 billion last I checked.
Lastly, leadership props up the stock by paying billions a quarter in dividends.
Its all unraveling and in keeping with a culture of fear and secrecy, leadership just keeps passing out the kool aide and telling everyone things are great. Well...they aren't great. This company has never been in more trouble than it is now.