Thread regarding Verizon Communications Inc. layoffs

Verizon to reorganize business segments

REUTERS - 41 MINUTES AGO

By Sheila Dang

Nov 5 (Reuters) - Verizon Communications Inc (VZ) said on Monday it will reorganize its business segments into Consumer, Business and Verizon Media Group/Oath.

Previously, the largest U.S. wireless carrier's operating structure was split between wireless and wireline, which included its Fios internet and video products.

The changes will be effective from Jan. 1, 2019, and will "optimize the growth opportunities we see as leaders in the 5G era," Chief Executive Hans Vestberg said in a statement.

The company said the new Verizon Media Group/Oath segment will be at the intersection of media, advertising and technology, and will be led by Guru Gowrappan, who was previously announced as CEO of Oath, the digital media umbrella that includes Yahoo and AOL.

Verizon (VZ) said it expects to begin reporting its financials under the new structure in the second quarter of 2019.

(Reporting by Sheila Dang; editing by Jason Neely)

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| 5655 views | | 18 replies (last ) | Reply
Post ID: @OP+VZ1Go1Y

18 replies (most recent on top)

Live in the bay area VZ doesn't pay as well as most companies here With 17 years and CA laws requiring VZ to pay all PTO and Vac, I'm at 60 weeks. Taking it. I'll go to another Big SF or Silicon Valley company

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Post ID: @1amc+VZ1Go1Y

It was reported Verizon is looking to trim costs by about $10 billion, starting with its workforce, according to a new report published two weeks ago. The Verizon Frontier deal was worth 8.6 Billion in 2015 that included selling landlines in 14 states to Frontier. Do the math!!

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Post ID: @wpv+VZ1Go1Y

How do you separate a business in 3 parts based on the customer type when the main product (the network) does not differentiate between the different types of customers? Who does what? Will teams have to be separated in 2 groups even though they're responsible for the same equipment? Will the network infrastructure have to be redesigned? Wouldn't that be cost-prohibitive? What about plans that were already well under way before this new announcement, do we go back to the drawing board and waste more money trying to figure out how it will work? Should I just give up and take the package? So many questions...

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Post ID: @uzt+VZ1Go1Y

How does this announcement deal with shared services, like HR and Legal that are primarily in Basking Ridge ?

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Post ID: @dyj+VZ1Go1Y

It clearly means hello wireline and union now that they are no longer seperated. How you took it the other way rather bizarre

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Post ID: @hsm+VZ1Go1Y

“”Customer don’t think in terms of ‘wireless’ and ‘wireline.’ ... we are aligning our new organization to driver those expectations” ... our wireless and wireine businesses will report to one leader. ... eliminating duplicative functions”

No that isn’t something from today that was 2015.

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Post ID: @aam+VZ1Go1Y

@ilb integration means the opposite why integrate in order to separate at all? Why not separate and not integrate?

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Post ID: @mlr+VZ1Go1Y

@ndi I don't think you read it right. How is integrating everything getting rid of something? One could argue it will become all the more difficult to do such a thing.

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Post ID: @ilb+VZ1Go1Y

Clearly this means we are saying goodbye to wireline. And the union.

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Post ID: @ndi+VZ1Go1Y

The ruse of it being a two separate yet not operation is finally being brought to light. The whole charade of wireless operating like magic in some nether space is over. The network is highly infrastructure based and dependent, if not our own then someone else's. Maybe this will restore some reality to the business and remove the needless hassles brought upon the customer due to the artificial two "separate" company dynamic. This should of been done years ago and will lead to great savings by eliminating a large number of redundant jobs as well. Good work Hans. Lowell perpetuated the separate model good riddance to him and his ilk.

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Post ID: @lnu+VZ1Go1Y

Stand strong WIRELINE that 'better' deal is just over the Verizon.

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Post ID: @noa+VZ1Go1Y

With this reorg announcement, wireline folks with 15+ years who do not jump all over this voluntary package are completely delusional if they think they have much shelf life moving forward. Take the money and run, reinvent yourself and enjoy life while you can!

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Post ID: @tex+VZ1Go1Y

What's it telling us? That we finally have a chance to stay in business and become more profitable?

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Post ID: @kqk+VZ1Go1Y

Both Group leaders are VZ Wireless. That is telling.

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Post ID: @tey+VZ1Go1Y

Say goodbye to the wireline side

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Post ID: @niu+VZ1Go1Y

Verizon 2.0. ....I hope we are bought out by google. This id--t Hans will yrash us like he did Ericson.

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Post ID: @ljb+VZ1Go1Y

Guess we aren’t being bought by google !

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Post ID: @poo+VZ1Go1Y

5yeeee and One Fiber are the future. Get on board folks.

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Post ID: @bcd+VZ1Go1Y

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