https://www.forbes.com/sites/miltonezrati/2018/12/13/staff-cuts-reveal-verizons-urgent-needs/#fe0dcd8598cc
7 replies (most recent on top)
If I am interpreting this correctly, the author maintains that AOL was bought “near the peak of their market power and popularity”?
Does he not know the year was 2015, not 1997?
The author also seems to indicate that the Yahoo purchase was “near the peak of their market power and popularity”? , in 2017?
I do not agree with either of those notions. I don’t know what in this article is legit, if anything, and what is hogwash, if anything?
“...the firm’s Oath division consists of the earlier acquisitions of Yahoo, America On Line (AOL) and Huffington Post bought all near the peak of their market power and popularity.”
?
Just watch, the other big 2 will follow. You can bet your life on it
The article was spot on.
and his numbers were incorrect. It was 10,400 who accepted the VSP, plus another +/- 600 who took an ESP in lieu of rebadge.
We weren't eligible, originally. The decision was reversed about two weeks after the deal was announced. Maybe the author didn't get that memo.
"bout 8,000 of those leaving Verizon chose to do so in response to a voluntary buyout deal. Last September, management sent the offer to some 44,000 employees, about a third of its entire workforce. Each worker who agreed would get three weeks’ pay for each year of his or her service up to 60 weeks, as well as bonuses and benefits. Some 2,400 more of these announced staff reductions reflect a management decision to transfer employees to the Indian outsourcing giant, Infosys, as part of a $700 million agreement. These employees, if they refused transfer, were not eligible for the severance package."
I'm not sure this article is credible. We know that the Infosys transferees were allowed to take the VSP offer in the end if the did not accept the Infosys offer.