Thread regarding Verizon Communications Inc. layoffs

WARN act notifications are location based (more than 50 employees at a single location). The only time you will see Vz trigger it is when layoffs hit a large facility like HQ or a call center. Vz flys under the WARN radar all the time. 15-20% RIF w/o a WARN notice is easy.

Now its the right time to execute layoffs. Getting bad press should not be a concern especially when other tech companies are doing the same …

Also part of the point of a potential big RIF is to get some splashy headlines about cost control and other 2023 tech buzzwords to make a positive impression on stockholders. What's the point of laying people off if it doesn't make the news and manipulate the stock price?

Look around the office. Can you find 2 people on each team that are complete clowns?

WARN is probably not an issue for the "leaders". They'll just give the layoff notices 61 days in advance, just like they did last October.

This is WHY there won't be a 15% - 20% reduction in force, as it triggers the WARN act and Verizon does not like this kind of publicity. I do think there will be LAYOFFS in 2023 but smaller percentages. One good quarter (Q4) in 2023 does not erase the three bad quarters in 2022, we lost both customers and revenue.

Worker Adjustment and Retraining Notification Act (WARN) (29 USC 2100 et. seq.) - Protects workers, their families and communities by requiring most employers with 100 or more employees to provide prior notification 60 calendar days in advance of plant closings and mass layoffs.

because it aligns with what every place is doing.

The assertion that Verizon has a 45% Union workforce as way off base. Total head count when I looked it up was 120k headcount of total employees. As of 2016 There were sound 34k union employees. Would guess that number a quit a bit lower. The unionized workforce is not the reason this company is headed in the wrong direction. Poor decisions and operational choices and and a lack of understanding of what the customers want and are willing to pay for have a much larger bearing on the recent poor performance of company results.

It's rate, but there have been pockets of 10% RIFs in various IT organizations over the years. A cut of 10% or more of non-union employees across the company would be unprecedented. The company would have to be in dire straits in order to have a RIF of that magnitude. I don't think we are there yet, but could be soon if 1H2023 goes south.

VZ has six (6) large and dooming issues. One, saturated US market due to too many competitors. Two, expensive payroll costs as a result of 45% unionized employees. Three, poor executive leadership, which cannot plan a strategy to succumb the weaknesses, opportunities, threats, and strengths (if any). Four, no overarching corporate vision. Five, the social issues, diametric and opposite, to what wall $treet measures. Six, the lack of a strong and visionary set of Board of Directors, whom have approved bad decisions to making any investments and former acquisitions.

When VZ announced CapEx would be cut by 25%, the stock shot up. Same will happen with massive layoff announcement. VZ isn't a growth company it's a dividend company where shareholders view cost cutting as bullish.