I sure all of you remember the rumor that was circulating about the possibility that Verizon could be closing some of its stores. Seems that all is quiet now and there are no more rumors circulating (at least I haven’t heard any), so I wonder if this really turned out to be a false alarm or there is simply no new info on the matter?
9 replies (most recent on top)
Farmington Mo was changed to indirect in October and Whiteville NC was changed to indirect in December. Im sure there are many more but VZW is keeping this on the DL.
“I know who this person is and they are cedible.“ - @2thq
Question is, are you cedible?
I know who this person is and they are cedible. So I will just repost what they posted on here 9 months ago. We are approaching stage 4:
Retail Closure Roadmap
I work at Verizon in the real estate lease and property department. My job is to manage leases for corporate stores and find and lease locations for new Verizon stores. I feel it's my duty to tell everyone whats going on because when stores close I will most likely lose my job as I wont be needed anymore. I have a wife, kids, mortgage, student loans, medical bills and some other debts so trust me I know how you guys feel on the front lines. Take the following information and prepare yourself and your family.
*Stage 1- Stores will open one hour later and close 1 hour earlier.
*Stage 2- Stores will close earlier on sundays.
*Stage 3- Some stores will be out right closed on Sunday. (If your store is closing on sunday that means the store is NOT profitible)
*Stage 4- Stores will combine and some layoffs will occur. (for example store A and store B will become one store and the store with the lowest rent/overhead will be chosen)
*Stage 5- Verizon will not seek to renew leases on locations this is when stores will start to close. The average lease will expire around the 2019/2020 timeframe (I was told this would happen no later than 2020 for stores not producing a profit. This is near the date of the 50 shares vesting that were gifted to employees, it will be part of a severence package when stores close)
*Stage 6- Final Stage- Behind the scenes your stores lease will run its course and expire, 3 months before this date employees at the condemned stores will be notified to make final plans and prepare.
Please use this information to prepare. I will not post on here again I wish you all well we are in this together because without stores to mange its only a matter of time for me. And I could no longer look employees in the face and act like everything is ok.
Its not a rumor. Just wait.
4 stores in SoCal closing by end of Q1
They will all be converted to resellers within 2 years.
They actually just opened up 2 new corporate stores in my area, are renovating another 2 and increasing headcount in another. At least in my area stores aren’t going away
Holyoke MA store closed on 12/31.
There’s always a rumor of store closings on this board since like 2014. They same clowns who “know the plan” get on here and say it’s coming this year!
They’ve opened and closed stores the past few years, a lot of times people get laid off or transferred around to other stores or moved to a new store they’ve just built.
Fact is, your store could close if it’s not performing well enough to stay open! But this board is a lot of fear mongering with very little substance or knowledge.