#company

This round is employees. Next round The Company is literally eliminating groups. Any business that's been struggling to make money is gone. They make no money in advertising because yahoo was a failure, they make no money in fleet, no money in video they failed at TV and the streaming business, no money in international business, no money in cyber security, no money in government contracts

Dan is focused on being a wireless phone company with hopes of AI bringing new ideas to the table. The old ideas are going to be eliminated

https://www.intelligentinsurer.com/john-neal-wont-be-president-of-aig-after-all

For the curious former employees, what happened? Who got laid off?

Anyone know any details on the Care360 team position wise? Is it a good team to work on?

Anyone know any details on the Care360 team position wise? Is it a good team to work on?

I am not sure how Verizon's employees will bounce back. I see many creating resumes and trying to find a job. Once the layoffs are done, the employees who were meant to be retained will also leave. I don't understand how the leadership doesn't understand something as basic as this. Every company that has done layoffs, do it FIRST, then go to the press. Here, we are getting to know the fate of the company not from our employer, but from news outlets. That's extremely disrespectful. I hope people realize their self-worth and abandon ship before its too late and Dan decides to come for them.

I'll ask again. Why did VZ publicly deny the layoff rumors and then days later leak the news and every source reports 15k job cuts?! Was this Franz's first task in office?

This is not an effin DEI question, so keep your DEI comments to yourself or make your own post, that will get down ited til it ages off.

The debt that Dell has will not allow the company to hire new employees.

Jim Farley was surprised to see how much less components and wiring in the Tesla and Chinese EV. Ford did the tear down of the Model Y in 2021 and it shows how superior Tesla vehicle design is. Farley had no idea and Ford vehicle design stayed the same as it was for 100 years. What a joke.

Rawool Fernandass announced with great enthusiasm “My leadership is uniquely leaning itself toward strategic penetration as we fully embrace a deep engagement with our organization’s Assponential operating framework".

And then days later leak the news and every source reports 15k job cuts?! Was this Franz's first task in office?

It's not a merger, They have conquered TU and spoiling TU products and core teams who build these systems for so many years. There models failed from past 3 years and poor in managing their own Neustar systems. Inefficient to understand TU systems and how important these are for consumers. They are finally making sure all these systems sinks before they leave.

Leadership is saving Neustar team and kicking out TU core teams just believing their bullish overhyped products which are worthless when they try to implement it in past 3 years.

Work force reduced next up asset sales?

https://www.datawrapper.de/_/gAWmw/

Joke that Cisco will excel based on current quarter. The bubble will come down in no time

Less than a month from Fox woods and the company is crumbling! Mole says massive layoffs coming or happening. Silver spoon can’t save the company and may be asked to leave. All less than a month from the Mee hans saying how much BETTTTAAAHHHH they are! Run while you can!

The Reorg is going to reduce the divisions as usual. So if you’re a division player get ready. That’s where a large portion of the other 2500 come from. Buckle up. 1st week of December

Hi, I work almost 100% from home now. So, very little interaction with folks in the QP office.

Does any one know anyone who was let go since the big announcement? I haven’t heard of anyone getting fired or quitting in my close circle YET

I wonder why he just reorged his group this week if he is retiring in 2.5 months.

What percentage of management is that? How many managers does Verizon have total? This is just an awful kick in the pants.

This is horrible news. I’m so sorry, guys, for all of us.

Love the title

Pay for poor leadership decision
https://www.dailymail.co.uk/yourmoney/article-15288451/amp/verizon-job-cuts-customer-losses.html

Does anyone here actually know how they got the 15K number?
Was it formula based on Pay, Insurance, WFH?
Was it just spread across the whole business?
Was it mainly performance based?

Someone here surely knows this?

"On Friday, we'll officially welcome our new MEG colleagues and begin the important work of integration. We’ll share more information about what that looks like tomorrow, as well as other resources to support everyone during this transition." - Big J

So 15k is the number. Which is still short of the 20%. So most likely round 2 will be after January. Those lists were already made as most people suspected. If anyone has actual details on how the layoff procedure works from prior experience, please inform us is there an HR call is there a WebEx? And what are the details of the actual severance if there is any?

one out of every 10 will not be here after the following week. That will be one out of every five after January. Sad state of affairs.

Verizon shares rose about 1.7% on the news.
Thousands upon thousands of people are about to lose their livelihoods, and investors are rubbing their greedy little hands together, rejoicing at the news. Really tells you something about the state of the world we live in.

Verizon is cutting another 15,000 Employees, bringing their total down to about 85,000 — and you can bet your AASSS that AT&T will follow in their footsteps.

https://www.wsj.com/business/telecom/verizon-to-cut-about-15-000-jobs-87280c3c?

https://finance.yahoo.com/m/75f297fa-e15f-3cba-96f5-57abda5a2630/verizon-to-cut-about-15-000.html

The layoffs, the largest ever for the wireless carrier and impacting about 15% of its workforce, are set to take place in the next week.

The cuts are aimed at its non-union management ranks and will affect more than 20% of that workforce, the source said. Verizon also plans to transition around 180 corporate-owned retail stores into franchised operations, the source added

Centene's FL Medicaid contract taken up by Molina.

The company was in a growth/acquisition phase for basically 10 years, now with the current landscape and the negative sentiment from stockholders, the government, employees, cratering stock price the layoffs will not end, only increase. Raises are next to nothing along with bonuses, stacked ranking laying people off even if they are good performers, over worked/over stressed, useless surveys, etc. 10 years ago the company was actually good to work for, the company is now a shell of its former self. Don't work her unless you want to constantly worry about being played off and overworked.

Layoffs starting now

It already hit the Street and ghasp Yahoo

https://ca.investing.com/news/stock-market-news/verizon-to-cut-15000-jobs-amid-growing-competition-pressures--wsj-93CH-4315096

CNBC just reported (per WSJ) that Verizon is expected to layoff 15,000 employees next week, making it its biggest layoff ever. It’s coming. Sigh.

What a waste already. Still no concrete details because they are still trying to figure it all out.

Wasn't able to join, but saw the slack thread and didn't see much on there about what actually happened

Fiserv stock is now under 60. With the terrible customer service and outdated technology offerings they offer that’s still too high. The fall of Fiserv should studied.