For people who are leaving VZ to join the new joint venture with BT, have you been given any information as to what your role will look like in the new org?
For people who have been told you are staying with VZ and not transitioning over, have you been told what your role will look like?
@kz That’s why I said the clock is ticking…
@kr BS. It’s already decided, mate. Those who left in VZ EMEA are either on the RIF list and knew about it, or they’re the strategically important ones. At least the ones I know and who aren’t on that list are high performers who can still shape things.
Hopefully a lot of CVs have been polished and updated over the past week. The clock is ticking for a significant proportion of Verizon staff. You might get through 2026 but 2027 is going to be tough
You guys have got the right view. I don’t get why some people are actually excited about moving to the JV and broadcast this stuff over Linkedin?? It’s obvious - BT is firmly in the driving seat.
We’ve all got the 12-month guarantee and this time we’ll be flat out moving VZ customers over to the BT backbone. Once that’s all documented, timelines set and automated, there’ll be some proper rough RIFs - all the duplicate roles will get wiped out. Why would the JV need highly paid VZ resources like network and security architects long term? Ok they might be towards the end of the list, but sales will definitely go first.
@bg but wait how can that be? Dan's message made it sound like this JV aligns with doing what's best for our customers? everyone just try not to think "junior varsity" when you see or hear JV. I'm worried thats how our customers are gonna refer to it if things don't go well and their experience goes south.
What is VZ JV
It’s gonna be a huge b-m fight at Senior levels all fighting to stay, throwing people under the bus to save themselves
As long as your at peace with the inevitable chaos and political games, just sit back, take your pay, let go and try to enjoy the ride for the next 2 years taking a front row seat in watching clueless leadership spectacularly f*** it up
@az on a point of fact it is not true that BT only pay statutory redundancy. Generally like Verizon they pay an enhanced package. It’s better to state the facts
@az 2 years to prepare and find something else is better than riffed in the next few months.
90% of roles will be eliminated under the JV on the Verizon side once the 12 month honey period is over and it's worth noting that BT only pay stat redundancy.
Remember that the equalisation payment Verizon are paying BT, means BT are the ones really in charge of this JV and make up the bigger slice of the pie.
If you're moving over to the JV, my advice would be to get out of Verizon now. Leadership are painting this as a great combination, opportunity etc but it's the two struggling parts of the business that BT and Verizon didn't want, getting them off their balance sheets. It'll be a career graveyard.
Since last year, the VZ leadership has been announcing something while the rest didn't know what to do. Even tiger teams don't know what they are doing, and some claimed they don't have budget to do anything.
I don't think clowns in the "leadership" have a clue about executing a successful JV, much less so in Europe.
It would have been very difficult to pull it off in a much more favourable state of the economy; now it's an act of desperation and admission of being clueless how to reinvigorate the business because Verizon consistently failed to invest in it in better times.
It's a continuation of the financial engineering. High-maintenance, low-margin/unprofitable operations are removed from the core income statement to artificially inflates the parent company's margins and overall profitability ratios.
What can Verizon Group Vice President and Head of EMEA bring to the table to hold back the tide?
It's naive to think that a highly indebted parent company will keep investing in a JV focused on an unprofitable managed services business.
@a9 you are spot on with that sentiment but I think this scenario is different for employees than being TUPE to an outsource like HCL. I do not think this is in the same category so employees should educate themselves as to what will happen to them and their contractual terms and conditions
@a9 💯
If you want to know what's going to happen to your job, then just look at what happened to your colleagues who moved to HCL.
The worst thing any employee could do right now is nothing. When it’s convenient to the company you will be riffed. Therefore now is the time to update CVs, update profiles and decide what you want to do as an individual. It’s clear some top talent has already decided to leave voluntarily and resignation. It’s very important to understand your rights in whatever country you work in and what the implications are of becoming a JV employee. Knowledge is power!!
That information is not available yet…but if your role is generic then rest assured there will be less people doing that role in 12 months time