Everyone keep saying get out Vz is a sinking ship. Well with these numbers I just can't see how. I know we have allot of debt, but usually sinking ships don't report numbers like this. Just my thoughts and part of the decision to stay for go. If Sprint is still alive I would think VZ will be just fine, maybe whole lot less people.
https://www.verizon.com/about/news/verizon-ends-first-half-2018-strong-operating-results
To the wireless side of the house this is a huge shock but for wireline, they've been running "lean" for the last few decades "this is what sparked the layoffs" When we merged and became one company Landline saw the multiple layers of redundancy & other areas that could be stream lined - by cutting cost everywhere, the company could make/save more money without selling more products/services unfortunately this is not just happening in the telecom industry. Technology is evolving at an exceedingly rapid pace so if you don't keep up with it you will be left behind - similar to when factories: "steal mills & coal" mines became a thing of the past, all those employees knew was there jobs and not much more so they had to get up to speed with technology in order to compete, same situation is happening now. If you don't possess the skills/knowledge companies are seeking you will be left behind, it's sad because many employees put many years into VZ and became comfortable with their pay/positions & the thought of having to get out in the job market & find a job making half of what they made is scary but it is a reality. We were warned of there plans almost 3 years ago, more than enough time for people to get there house in order "financially, educationally, etc" the smart people went back to school to get degrees/certs and paid off all financial obligations in preparation for this time, the rest sat back with blinders on thinking things would be ok "my sympathies are with you" - Never get comfortable with any job where you work for someone else - Never stop learning new skills - Always evaluate the current job market & align your skills with it. Lastly: In the words of Rodney Dangerfied "Back To School" - You gotta look out for #1 without stepping in #2!
Sinking ship because it's randomly cutting the people who built it. Sure you can look good for awhile, but eventually you run out of people you can lay off and parts you can sell off.
This is all according to plan. The board will enrich themselves as they carve up the company.
Verizon IT culture stinks !!
To put it in perspective, the stock has dropped . With the news of reduction of work force, cutting costs and new products , to also mention the corporate tax cuts and the union agreement all would have raised the price of the stock some. This dog cant hunt anymore.
It's sinking because of it's dying culture. You can have the house, cars, money in the bank but if the soul is rotten you're still awful. The soul of VZ is rotten. People make a company and VZ treats it's people horrible. The benefits are great, pay is very good but people hate coming to work, not knowing if they'll have a job, seeing friends lives wrecked....it's a pit hole... sunken ship!!
Stock is trending downwards since the announcement. We'll see how low it goes and then we will say I told you so. No one trusts Han and I don't blame them after the whole Ericsson fiasco.
It's not sinking, it's sunk.
Vz will not win in their 5g race because of arrogance in the upper levels of this company just watch and see...other companies will do it right the 1 st time , you will see
I would be amazed if this is anything like Enron. VZ has some real assets, and lots of paying customers. Sure, the customers may jump ship eventually but that is a very slow process. When there are large layoffs (or buyouts) it's easy for the impacted to think "last gasps of a dying company" but not always the case
The reference to "sinking ship" refers to riff's/layoffs, the company is doing better than ever but that's only because of the reduction of staff, outsourcing BU's & selling of assets. So the term sinking ship implies that you/your position may be cut/outsourced, everyone knows the company has ton's of money on hand "that's the part most employees can't grasp" but the company is trying to maximize profit by any cost saving technique. Many are upset by this but we do it everyday, when it comes to your personal/home expenses - we re-evaluate our spending habits "what we spend money on & if we can make cut backs somewhere" if we can save $20 by dropping a few cable channels or $10 by cutting XM radio we do it right? So why be upset when a corporation does the same....
Books are cooked. Enron part 2.