Prior to market saturation when wireless services were selling themselves, Lowell and Co. developed a mindset where they could do no wrong. Now that they face competition, they're clueless. That they think they can up go against the likes of Facebook and YouTube is delusional. That they think a group of rich old people can come up with services attractive to millennials is hilarious.
This is basically it. Outdated thinking and complete inability to handle competition is tanking Verizon.
@1pih I want to be friends in real life
Fios is growing .
They are hiring techs like crazy in the mid Atlantic (union workers)
Gigabit internet is killing the cable companies as they cannot match Verizon s speed .
And this is just the beginning... vz will be going to 40 gigabit per second to consumer in the next few years so again another milestone cable cannot touch...
I agree a lot of $$ was wasted on blow 90 but fios is not dead .
Damngggg.. that was a pretty decent B-slap.. lolololol
@1aiz - Oh, I'm sorry. Allow me to fulfill your layoff site desires.
Here is something nice I have to say:
• Life is so much better when you are not working for Verizon
• There are MVNO’s out there that offer wireless service for pennies on the dollar when compared with Verizon. So it is a great time to be a consumer in the cellular world.
Here is something productive I have to say:
• Verizon will be forced to cut its dividend in 2018 which will cause the stock to tank and dramatically devalue Verizon.
• This will cause the board to turn over the leadership team after shareholders revolt and the board is forced to take action.
• This will cause a need for a 15% reduction in headcount to reduce OPEX
• This will cause Verizon to desperately get bought out or merge with another company so they will survive. If this does not happen Verizon will declare bankruptcy and relieve itself of all pension obligations in the process.
Here is something negative I have to say about the union per your request:
• Union employees are over compensated when compared to non-union employees of Verizon’s competitors (not AT&T). This limits Verizon’s ability to be competitive and will ultimately break their back. Anyone remember Hostess? Not really negative, just the truth.
http://www.nationalreview.com/corner/333668/blame-unions-hostess-bankruptcy-james-sherk
Anyways, your comment is contradictive as you say this site is useless, but you are here anyways and you ask me to be negative about the union which makes little to no sense and won't change anything. Based on that you sound like a retail employee as they are the least intelligent lot I have encountered within VZ.
@1iwz your commentary is exactly why this website is a waste of time. You manage to be negative about lowell (deserved), verizon, fios, the northeast, 5g (which is years or a decade away), and wireless all in a few sentences. You have nothing nice to say, nothing productive to add, yet you say nothing about negative about the union. You're a joke.
FiOS is irrelevant. The tiny northeast footprint is too small to ever contribute significantly to support Verizon. The other markets should have never been sold off.
Lowell put all the eggs in the wireless basket and now he's losing. Wireless is by far the biggest revenue source and it is under attack. 5g is capital heavy and Verizon has no money for capex. It's all bad almost like the perfect storm.
Sure people want, and need, high speed broadband, BUT they few are really willing to pay for it. The ROI just isn't there for FiOS data only. That's why Verizon continues to roll out FiOS packages and, reluctantly, only lights up new areas when absolutely required.
About the only vision Lowell has that I agree with is being first to 5G. It's the only thing that will save this sinking ship due to Lowell's past bad decisions which includes stopping the rollout of FiOS which would have been more economical years back before streaming became so prevelant. We would have also had fiber almost everywhere, greatly reducing the the cost to deploy our current wireless network and 5G in the future.
nkf, znt, nkf
How do you guys figure that high speed internet (fios) is not in demand? All ott services, and online gaming require high speed internet to the home, people all over the country are working from home in greater numbers and require more speed than a cell-phone can provide.
If FIOs is failing, it is due to "outdated thinking" as the OP has stated. We are still trying to sell cable packages and home phone bundles, when more and more people want only a high speed pipe. A lot of money has been invested in other projects such as go90, however they have yet to bear any fruit.
Actually worse than outdated thinking, FIOS is failing due to a conflict of interest; the company does not wish to spend the money on FIOS pure and simple. We have a CEO who is mainly interested in cellular, and is waiting for the day when cellular is the only option for customers. FIOS is seen as an obligation at best.
If FIOS is failing, it is by design, not because people don't want it. I say this not only as an employee, but as a customer who values high speed internet to my home, a service I am forced to purchase from the cable company because Verizon does not want my business.
$116 billion. Is that a ton?
Doesn't Verizon have a ton of debt?
@ihu - Yes we know its no secret Verizon doesn't give two $hits about employees. And yeah of course everyone on the LAYOFF site is concerned about their jobs being impacted. So uh, since Verizon needs talent to win in the talent heavy, talent dependent tech sector, maybe they should stop $hitting on what can make the difference, because shareholders could care less...
With regards to the direction of the company, not many out there agree with the direction it is going in. Spending billions on old tech companies and buying up little telematics companies in hopes that they will all get cobbled together to form something that will rival Facebook or Google. Its a joke and shows just how desperate Verizon is to make itself relevant again.
You guys are clueless. Cash cows don't last forever, but they do help you weather storms as you get your ducks on a row on the next sets of strategic ventures. They buy you time while you figure things out. Seems you guys would have us just plug along doing to same-o same-o while we become the next Sears, and then when that happens you're the first one to say we should have anticipated that and done something. Well, the company is doing something which we may or may not agree with. I get the suspicion that all your drama is less about the direction of the company than it is about how said direction will impact your job or benefits. And honestly, from an employer point of view those things matter but are not typically drivers of strategic decision making. I. e. it doesn't matter.
FiOS is a cash cow? ROFL!!! Lets see you say that after Verizon declares bankruptcy and your pension goes "POOF!"
@xpt - Your "cash cow" is drying up and will soon be slaughtered for pet food. Have you checked the liabilities in your balance sheet lately? Your credit cards are maxed out.
Or could it be they and other telecoms see into the future, and have identified a path to get where they feel the company needs to go in order to survive in the long term? Change is hard sometimes, especially for folks who get a job and expect to not have to ever look for another one. Verizon is changing whether we like it or not. We don't have to like it. Remember when people thought we were tanking because we were spending so much on the FiOS rollout. Well, that bought us time and got us to where we are today. We have a cash cow now while we work on the next phase of staying alive in this industry. It is painful but life is pain, as the Dread Pirate once said.