THE END
13 replies (most recent on top)
Fair Point Communications all over again... ☹️☹️
The likely scenario is bankruptcy is filed and the day to day operations go under a bankruptcy court or receivership. A board will be assigned to make all decisions, with the intent to give debtors their money back as much as possible. Essential employees will still work, day to day will carry on. The board will begin selling off markets, areas to interested parties. They will likely set a termination date for that area to exist as frontier and whatever new company will start the next day. Employees will likely have to apply in some fashion with the new owners. Its likely essential employees will be hired under new management, though i doubt all will. Middle management and executives will not be offered jobs though there will likely be some exceptions. I would expect to the average tech it wont be very different until the new company sets up a leadership or management structure. The likely buyers are going to be nearby carriers, with AT&T being the exception, if you are really curious, look at the financials of the neighboring companies and see if they have the debt capacity to buy a market or region. I highly doubt a full state is sold to one entity. Markets will be partitioned out. Frontier will have to petition this board to keep any marker together to demonstrate they can run it succesfully. The board will decide if its better to sell, or let frontier operate. For some frontier employees life will greatly improve under a different company, for others...they will be redundant and find it harder to find a place. Provisioners, project managers, engineers, administrative jobs like customer care, resi sales, call center jobs would be examples. For frontline techs, OSP, CO techs, Tech support, translators, switch surveilance, head end techs, IP engineers, ...they will find a high chance of being needed for any new company. I have been thru this twice before myself and can understand the stress. Put yourself first and think about how essential you are....if you arent, start looking for opportunities or ways to make yourself essential
Frontier's Form 8K filed with the SECURITIES and EXCHANGE Commission
https://investor.frontier.com/Cache/IRCache/496a2f54-cde7-3ada-2cbd-88e456d173ba.PDF?O=PDF&T=&Y=&D=&FID=496a2f54-cde7-3ada-2cbd-88e456d173ba&iid=4057107
March 27, 2020
By Name: Mark D. NielsenTitle:Executive Vice President, Chief Legal Officer and Chief Transaction Officer
Frontier prepares for bankruptcy, regrets failure to install enough fiber
https://arstechnica.com/information-technology/2020/04/frontier-prepares-for-bankruptcy-regrets-failure-to-install-enough-fiber/
As Frontier Communications moves closer to an expected bankruptcy filing, the ISP told investors that its troubles stem largely from its failure to invest properly in upgrading DSL to fiber broadband.
The presentation for investors, which is included in a Securities and Exchange Commission filing, said that "significant under-investment in fiber deployment and limited enterprise product offerings have created headwinds that the company is repositioning itself to reverse." Much of Frontier's fiber deployment was actually installed by Verizon before Verizon sold some of its operations to Frontier.
If they can’t make a deb payment, what makes you think you will continue to get a full and timely paycheck?
given they just skipped their bond payment and are rated "SD" (Selective Default" by S&P, I wouldn't think my job was safe if I worked there. A company that can't pay it's bills can't maintain staff either.
Frontier are master BS’ers. Job postings don’t mean anything with this company either way.
I went to Frontiers website and they are hiring like crazy everywhere, or atleast they are posting alot of job openings. Is this just BS or are they really hiring in the middle of this pandemic and bankruptcy doom and gloom while everyone else is laying off?
The proof in on Frontiers website for all to see
There are a lot of us that come to this site for information but some if you just want to scare us. How do you know we are going under? Where the proof?
I sure wish that new Coach would realize this. I know his eye is all jacked up after that eye jamming I gave him.
Folks, these rumors have to stop. You are upsetting good people.Frontier isn’t going out of business. Have you heard of the economic term, “too big to fail”? Well Frontier is. Good things are coming. In fact, Tampa will be hiring 100 sales reps when this pandemic is over. Stay positive folks.
She’s warming up her vocal chord to sing.....