Thread regarding Verizon Communications Inc. layoffs

This is all in the the major plan.about 30% of the wireless side will be gone and the wireline sold off very soon.

Folks,
The biggest reason VZ is in a downward spiral begins at the top! Stock price was at $64 when the current CEO took over. Total value was $269.2B. Today, stock price is at ~$31, value at $129.3B. It also incurred $60B in debt. Do the math! I cannot believe the BOD continues to let this inept person run the business. If this run continues, VZ will be a former telecom company with all investors losing big on any potential sale.

A lot of people have given many years of blood, sweat and mental health to Verizon and now by 6/23/23 many of them won’t have jobs. Another American company giving jobs away to foreigners but still expecting top dollar for their products and services from the very people they just betrayed. News flash- people who don’t have jobs - can’t afford Verizon and their friends and families won’t support Verizon anymore either.

It’s a total joke. No one knows anything other than our jobs are being outsourced. If you’re “lucky” you are being given the opportunity to apply for jobs you aren’t qualified for, and get to compete for like the Hunger Games. They fired so many supervisors yesterday and pi---d off so many reps that called in sick—-they offered overtime for those stupid enough to go to work today

My friend got notified yesterday. 1 month notice. Said the offer was nice and they're not mad

My husband got the call today … after 15 years he’s out. He works in IT and saw the writing on the wall but it’s still tough when it actually happens.

Verizon just announced the entire customer facing Frontline employees will be going thru lay offs. As of May 25th 2023 Frontline Customwr facing employees will be able to choose from severance or 3 optional pathways to move forward. However if a pathway is chosen your still not guaranteed a position and are still at risk of being laid off as there is a limited amount of positions in the new Customer Service organization.

I managed to survive 5 previous rounds of layoffs that directly impacted the various organizations or teams I was part of at various times. After 28 years of playing the Verizon Squid Game, I it was finally my turn last fall. By all means, stay clear of this vile employer and if you still work there, do everything in your power to get out right now. The biggest regret of my life is giving 28 years of blood, sweat and toil to a once great company that has now become purely evil and vile - where literally every employee at every level of the company lives in abject fear of the next surprise hastily scheduled Zoom meeting with their organizational leadership. It is an absolutely unbearable way to work, let alone live.

Until the market turns around and leadership starts making better decisions, assume there will be rifs every quarter. Spruce up your resume, and start looking - can't hurt.

@2dudg+1jUV0ur1 - define major....

Yes there will be a major layoff coming soon.

It sure seems like every few months they quietly lay off another ~5-10% of BU's headcount. A game of round robin where each BU gets a turn.

If that continues to play out, I'd expect another round around the May/June-ish time frame. I assume Q2 results aren't going to be enough to stop the bleeding - I'm not sure any quarter going forward is going to be. We're in deep water in a small boat here, friends. You should be squirreling away money if you're still here at this point.

I want to give everyone who has been laid off and is looking for a job hope: I was laid off in May 2017. In my case they replaced they replaced me with a “non-traditional employee” who came with a the XO Communications acquisition.

The first couple of months were tough. After that, it turned out to be the best thing that ever happened to me. Now, I work at a great company that appreciates me. I get to telecommute from home. Plus, my base salary is $65k more than I made at VZ. Best of all: there’s none of that woke cr-p that had taken over VZ.

One cautionary note: be prepared for VZ to call you about taking a contractor position when the months you were paid severance expire. It happened to me 3 times. I was so happy to tell them to burn in H—-! If my replacement can’t do the job without my help, that’s just tough.

You reap what you so, VZ. If you pick employees for reasons other than merit, you won’t get merit from your employees.

It is over for me as far as Verizon is concerned, just another chapter of life.

@21ckc+1jUV0ur1 you are kidding yourself. It's NEVER over.

I am glad that it is over.

Just got laid off at Verizon, in the CX department. I’m on of 35 people (in my small org alone) and HR told me they’re preparing for another round of riffs. I’m surprised this has escaped the media but i guess because they havent let go of everyone at once - instead, every 2-4 weeks, cutting teams in half. Terrible environment there now, everyone is on edge and unwilling to collaborate bc they’re scared for their jobs.

Quantum systems with Quantum phones are coming which will eliminate all phone companies sometime in 2023, hence the layoffs. These phones will be run off of Starlink satellite internet for free. No more phone bills for anyone. No phone company is going to tell you this. Do your research and educate yourselves instead of having the media think for you. The world is about to go Quantum everything. Wake up!

Didnt survive the first indirect lay off. Once they only kept the young unmarried and there is a lawsuit...saw this coming. Elminate the post there lawsuit goes away

Shipped my role overseas… a premium provider, that offered premium service, went straight downhill since Hans took over..

They eliminated the Indirect Account Manager Position completely. Employees were notified 2/16/23. They will receive a severance or they have 30 days to apply for another position.

Coming from an employee with Verizon we just received notification that we will be laid off as of 03/17/2023 as our jobs are giving to "external" reprentatives and we are no longer needed. I work here in the US in customer service.

Look at AT&T cutting management by 30% January 2023. If one does the other follows. SOSDD

Any updated news on layoffs at Verizon? I have a friend that works there and currently hearing the same rumor. Not sure what departments would be affected though.

Multiple airlines eliminating call centers. This will be a trend for pure self-service as almost everyone has a cell phone. Cellular carriers with reduced RPU will follow suit.

I think there will be layoffs regardless of what the stock market does.

There will be another of layoffs after bad earnings come out after this 4th quarter and the 1st quarter of 2023, Guaranteed.

1psa everyone on here is clueless except for "insider" who really spits some insider information. They're worth coming to this site, just for them.

@1xkq+1jUV0ur1 right. It's like the people posting here are clueless. They also don't have a wireline business.

T-Mobile acquired Sprint/Nextel so of course their numbers went up.

The new org is a layoff/outsourcing machine so I expect there will be waves of them for a while.

T-Mobile US total number of employees in 2020 was 75,000, a 41.51% increase from 2019.
T Mobile is still growing catching up to Verizon and they have a much smaller workforce than us 75,000. So whats the magic number for Verizon?

The "insider" is a snitch like deep throat was. Stop giving out inside information before I sell the rest of my shares. P.s. don't try to figure out who I am. I would never give my last name on here for fear of being found out. Suckas.

There are rumored layoffs for 2023 and I got inside word that there will also be some in 2024, 2025, 2026, 2027.

There will always be layoffs here and there every three months or so, nothing major.The usual October-Nov cut is always a fact