Thread regarding Lumen Technologies layoffs

A sinking ship...........

https://www.fiercetelecom.com/telecom/lumen-sells-emea-business-colt-18b-scraps-dividend

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Post ID: @OP+1jw4oS0k

8 replies (most recent on top)

Don't forget operation Yellowstone

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Post ID: @hcaj+1jw4oS0k

Looks like the company is being set up to be sold. Buying company probably told them to slim down and divest all the assets that they don't need. My guess is once the EMEA deal closes they will announce the sale of what remains

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Post ID: @gdod+1jw4oS0k

Bankruptcy by late 2023. These guys are good at one thing. Destroying a company.

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Post ID: @1wgq+1jw4oS0k

Hmmm..All this talk about selling off pieces of the company, no dividend, and a new CEO, Kate Johnson. All of this made a title of a Frank Zappa album pop into my head, and that is "Ship Arriving Too Late To Save a Drowning Witch"
Think about it.

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Post ID: @1yrd+1jw4oS0k

The stock closed at $5.80 today, that's down $1.25 or 17.7%. Volume was 61 million shares. I guess the institutional investors aren't impressed with the new plan.

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Post ID: @lky+1jw4oS0k

Yeah. The company is cooked. Yesterday we sold the EMEA part of the business for 1.8 billion. Then we announced the dividend removal, and failed revenue numbers. It would have been too smart to only announce the EMEA sale and continue the dividend to increase the stock price. We're not buying assets or technology. All we keep announcing is failed numbers and dumping more of the company. Then, we're told it's to align us for a better tomorrow..all that while our CEO is leaving. No one knows who LUMEN is and we can never buy out Charter $343 a share, T-Mobile $148 or heck even Verizon at $38 . This is lipstick on a pig, hoping someone buys us.

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Post ID: @buj+1jw4oS0k

Yep, selling off pieces as fast as they can. New CEO is being brought in to oversee the complete dismantling of what's left. Very sad. Still a few good folks left there, I hope they can somehow land on their feet.

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Post ID: @aic+1jw4oS0k

The 4th Industrial side walk sale! What a bunch of clueless buffoons! Like they were seriously gonna become a player in the over populated Technology field! Narcissistic much? Please! Take a seat and play musical chairs and see where you end up! Ever heard of the Titanic?

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Post ID: @esa+1jw4oS0k

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