Buckle up
https://www.verizon.com/about/news/verizon-bt-group-international-joint-venture
20 replies (most recent on top)
@bk way to expose yourself as the clown you are, with that timeline 🤡
@by the comment was that offices would close within six months which is absolute garbage. I’m well aware who BT are having worked for them!
@bp you have no idea what BT is! Clive Salley reached out to all large customers today(BT+VZ).. saying they are in control… you might want to google him.
Meanwhile VZ leaders reached out to 36 of their elite legal counsels to decide what should be the narrative.. response expected by Aug! Good luck my friend
@bk And Wireless isn’t a cash guzzler?
Maybe someone should review the Tymshare/Tymnet/BT/MCI/VZ past history.
@bk I don’t think so, the deal won’t even be finalized until 2027 so you are way off
Finally! VZ international was just a cash guzzler!! Ate all the cash from Wireless. Good riddance.
I hear Vz will close all the Europe and Asia offices in 6 months. BT will run the show!
@bf but why dump a tu-d for $625M ? There must be cheaper ways to flush a tu-d.
@b1 Vz dumped a tu-d. BT dumped a tu-d. How exactly are the international employees the lucky ones?
For the 'gloomers' (doom and gloom), any employee that currently supports VZ Int will simply move over to the new entity. Since this is not one company buying another, don't expect rifs to thin the ranks beforehand. Unfortunately, that will happen with the newco's new leadership.
This will play into the overall headcount and expense reductions, not to mention the asset ride-offs at the parent level.
@OP And on cue come all the doom and gloomers! “They better give me an offer”! “Oh no, here comes a “rif” ! Etc…
So does this mean all VBG labor based overseas will be moving over to the new company?
What about US-based employees doing international work? RIF for them, or move to the new company?
@az a new joint venture means buckle up? lol get a grip
@OP international might be the lucky ones then
@ay for a bumpy ride, mo--n
Buckle up for what exactly?
BT has merged its global enterprise unit with Verizon to stop ongoing international business losses and refocus on the UK market. As part of this deal, Verizon will pay BT a $625m (£473m) equalization fee. The resulting 50/50 joint venture will operate with over 3,000 customers across 180 countries.
Take a look at the FAQs and you will note that Verizon level compensation and severance is guaranteed for 1 year post deal only….
Cue endless rumours and speculation. Bound to be more layoffs in duplicated areas over time
Finally…