Let that sink in.... I understand the industry is changing rapidly and margins are shrinking, but something doesn't feel right about this picture. Why are the folks getting laid off this week paying the price for the ineptitude, arrogance and botched deals of executive leadership. In theory, I believe the board of directors and shareholders are supposed to hold C-Levels accountable for poor performance but in realality Wall Street will cheer the move and stock price will probably rise on these announcements because VZW is "cutting costs" out of the business. Not to mention H1 Visa abuse that occurs in my market, with older IT professionals being replaced with H1 visa holders from Punjab India that VZW pays pennies on the dollar and no benefits, compared to over100k and benefits they would have to pay for an American IT Engineer. VZW will tell you it's because they can't find enough talent to fill the role but the reality is there are tons of 40-50 year old American IT professionals that can't even get an interview with VZW because they cost to much compared to H1 visa holders. LowMac, Marni, Scooter and team botched every thing they touched these last 3 years while John L. And T-Mo ate big reds lunch. Senior leadership is Tonedeaf to customers and employees. Best of Luck to everybody, so sad.
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@Ivan S
Are you actually the gofer in the bronx?
Big Exec pay is always a great rallying cry, but if we gave them nothing and took the $100M and distributed among all employees, each would get about $650 a year each. Which wouldn't make much difference (and you still need someone to run the company). And putting into infrastructure wouldn't do a whole lot either as there is just too much
@ keeping it real PREACH!!!
The "Layoffs" are for employees that do not add to the profitability of the company. C level stores because of overhead costs and number of managers and reps in the store are actually bringing in more profits than the A level stores that are over staffed. If you ever are working a job and think "am I just pushing reports around and not making the company money" you should not be surprised to wake up and not have a job.