Thread regarding Verizon Communications Inc. layoffs

Frequent layoffs hurt the company’s future profits

I know that Verizon’s future success is the last thing on the mind of the people who have been laid off, but someone commented that layoffs and AI will help Verizon bounce back and become more competitive. I cannot let that go without an answer. That’s not the case at all. Layoffs are just short term financial engineering so the leadership can report lower labor costs during quarterly earnings.

VZ had voluntary and involuntary layoffs every year for the last 10 years. If layoffs made companies grow, VZ would be growing like crazy and the share price would reflect it.

Jeffrey Pfeffer, a professor at Stanford Business School, had studied the available data and came to the conclusion that frequent layoffs hurt in the long run.

https://www.careerusa.org/jobs/179-resources/168-career-files/158-16-must-read-articles/372-lay-off-the-layoffs.html

#Company #Future #Layoffs #Leadership #Performance
by Anonymous
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Post ID: @OP+1kbjb8qd8
Comment! It's anonymous!

10 replies (most recent on top)

Yeah, this company is circling the drain. I wonder if it will be T-Mobile or AT&T that will buy it out?

by Anonymous
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Post ID: @ac+1kbjb8qd8

@aa It would be one thing if this cutthroat culture and yearly layoffs were driving stellar results like for example TSLA but they’re resulting in shrinking market share and tanking share price.

by Anonymous
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Post ID: @ab+1kbjb8qd8

@a8 - Verizon has always been a difficult, some say cutthroat environment, to work in. I've seen many people last with the company for ~5 years and get washed out by Verizon's burnout pace and harsh culture.

Layoffs are a part of Corporate America so you either need to accept that or move on to another career.

by Verizon Burnout Cycle
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Post ID: @aa+1kbjb8qd8

@a7 Over the last 5 years TMUS up by 58%, VZ down by 34%. TMUS had two rounds of layoffs: one after acquiring Sprint and another one after acquiring US Cellular. VZ had layoffs every single year. Doesn’t look to me that layoffs are a silver bullet.

by Anonymous
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Post ID: @a9+1kbjb8qd8

As already stated, Verizon has conducted many layoffs over the last 10 years yet the company is in worse shape then it’s ever been.

Culture completely depleted. If Verizon wanna reduce headcount just do hiring freezes

by Anonymous
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Post ID: @a8+1kbjb8qd8

@"a professor at Stanford Business School, had studied the available data and came to the conclusion that frequent layoffs hurt in the long run.

LOL!!! These colleges can't even teach their students properly in order to prepare them for the work world, and they're giving "insighs" into the effects of corporate actions on the bottom line??!!

They also fleece students at these colleges and universities to the point where they're so far in debt that young people have a hard time getting out from under their loans to start their adult life. It's actually criminal in my opinion.

No thanks, I don't buy into any of their B.S. "studies!"

by College BS Studies
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Post ID: @a7+1kbjb8qd8

@a2 Dan is incentivized to swing for the fences. If the share price increases due to his actions or by sheer coincidence (say T-mobile sc--ws up), he will be hailed as a conquering hero. If he fails, he’ll blame factors outside his control and he will have 50 million worth of Ben Franklins to dry his crocodile tears.

by Anonymous
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Post ID: @a6+1kbjb8qd8

I think the Hatchet Man will have his role as CEO only for a short time … he will take his $50 million and run. After artificially inflating shareholder value through massive cost cutting (layoffs)

In the long run, it hurts the company

by Anonymous
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Post ID: @a5+1kbjb8qd8

Dan will only believe if perplexity will tell him .. he does not believe in Stanford professor.

by Anonymous
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Post ID: @a2+1kbjb8qd8

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