What kind of a plan with positive results as end goal includes getting rid of nearly everybody with any experience and inside knowledge of how things work and replacing them with cheaper and significantly less skilled people?
Can somebody please enlighten me? What am I missing in this big picture?
Verizon overleveraged itself to buy the other 45% of Wireless from Vodafone, then made stupid purchases to “create” Oath, while doing little to help Enterprise grow. Now, Verizon is beholden to the dividend AND making debt payments. This is why the buyouts and layoffs are happening, because there isn’t enough leftover in the bank to pay for them with the other obligations in place. 5G might help margins, and maybe you can run a global telecom company with only 50,000 direct employees instead of 200,000, but I just don’t know...
This is all an effort to drive higher earnings. since the top line growth disappeared years ago, the only option to improve bottom line is to eliminate costs. this is all for the stock price, no more no less.
As someone who’s IT group was decimated by VSP I can honestly say work is NOT getting done. Went from 5 to 2 people. Most of the requests I get sit untouched until someone escalates. And it’s only going to get worse especially if they hire people with zero experience where I can waste time training them and fixing their mistakes.
"Notice how the work is still getting done?"
Actually it isn't.
Notice how the work is still getting done?
Small workforce and alot of profits .
Money is the long term goal.