Extremely disappointing results for Q1 but of course we were expecting that based on the rifs earlier this month.
But what's the plan? Do we even have any plan whatsoever as to how we are digging ourselves out of this hole?
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If its even true that the land in TX was sold- what does that matter- vz is not in the real
estate business - they always sell
Their properties and lease back this is nothing new they did the same thing in Wilmington NC after everyone started moving doen they sold.
What? Two years away?
"Self serve internet will replace call centers, not outsourcing. That's a given."
Well yes that's the plan, however the self serve platform S---S and is years away from being able to truly service customer needs without rep intervention.
When lowell was msde c.e.o he went to vz garages to check vz trucks for oil leaks ..and got all pissed off about how leaky vz trucks were..this is a true story..It sounds like he is more of a car guy ..than a tech guy...hummm
Self serve internet will replace call centers, not outsourcing. That's a given.
"Verizon sold its land in Texas of making the new HQ campus."
I thought construction already started?
@soe - So what? Verizon sold Basking Ridge in 2015. Know why? Because they have a cash flow problem.
I believe they will close all if not most of the wireless call centers and outsource. I heard from a reliable source 6 more will close within the next year.
We should purchase more over valued Telematics/GPS companies, that are even more commoditized than wireless service. The telematics price war is already being waged driving down future earnings on the telematics side of the house. Next we should dump billions into a video streaming service focued on millineals and compete head to head with YouTube/Google.
Just kidding. Leadership doesn't know the answer, or have a plan,they're just winging it. Look no further than this last quarters earnings report. The credit card is maxed and they can't buy anymore growth.
Next step is pot luck,you never know what is next,they dont know either,let just run around in circles and play patty cake..even Wall Street is losing faith in vz.
Verizon sold its land in Texas of making the new HQ campus.
Forgot to mention divesting wireline is a twofer. You get to rid yourself of union bloat and dump garbage landline telco at the same time. Win win.
Yup. Here's the plan:
Continue to reduce headcount by a target of 40% or 60,000.
Outsource retail and indirect.
Dividend gets cut then McDumbass retires.
Divest wireline assets to service debt.
Cut benefits, reduce or eliminate STI. Cut severance.
Move HQ to Texas.
Any questions? Good. Don't like it? Too bad. Gunna happen anyways.