Or on the smaller size like 2021?
15 replies (most recent on top)
@vjz+1jmKAaXR this is the most likely scenario. That new org will start with about 20,000 employees in January and may have half or less by year end. My prediction anyway.
Some programs/products will be discontinued and corresponding staff let go. About 60% of VGS to be outsourced with employees going to the contract-awarded companies, 20% cut, and 10% cut across all other orgs. Possible cash and longer paid medical coverage under COBRA, not a VSP since this is not voluntary. Outsourcing phased over several months in 2023. Remaining total employee headcount to be in the low 100k by year end of 2023.
I question how large it will be as Hans said that it would be nothing unusual. I will take that with a grain of salt since we have outsourced so much work. Good luck to all. Hopefully Hans will be out before too long. If you can outlast Hans, maybe the ship will start to correct itself
But wait, it will be done with dignity! What a relief ! I was worried for a moment...
Is that opposed to it done with humiliation?
How delusional and out of touch!
All departments just wait,they will let you know.
It will be big, real big, real, real big. We're talking Lucent, Nortel type big!
I think there will be rolling cuts through 2023
Be prepared regardless of the number.
When you are too busy to do your work and a 3rd party comes in to help you, the help will just keep coming.
Vz earnings have been off more the past two quarters and leadership said the 4th quarter will also challenging. Reduction in headcount is the fastest way to offset the losses. I think wireline will see an impactful reduction to the 30,000 employees.
There will be more outsourcing which means lower customer satisfaction which means increased churn.
@ttt+1jmKAaXR I see business and project teams that are useless and bloated. I see lots of reporting done that could be cut when those project teams are cut. What else.
The 2017 RIF was 10 billion over 10 years in reduction, and this one is 2-3 billion in reduction over 2 years. Verizon struggles to let go of its portfolio of products, and they've sold off most of its troubled assets. Expect large-scale outsourcing with Craig, and significant cuts to business, retail, inside sales, and the network teams. Functionally they've already laid off most of the operations teams, most of WFP&A, and most of systems. This leaves retail/retail support, inside sales, care, tech, BGCO, business and projects teams. Most of the directors have already exited the scene in inside sales, most of care is already outsourced so is PACT, and Tech. Who do you think is going to be on the chopping block, because I can see it a mile away.
Yuuge.
Big as in Lucent, Nortel RIF’s from the early 2000’s. If you are under 40, you haven’t seen one like this yet in your career. Buckle up
Does anyone know what department the layoffs are coming from?