https://www.barrons.com/articles/verizon-layoffs-73f1fc34
I hope they are not publishing this unless it’s from a credible source? Like a band 4 or up.
11 replies (most recent on top)
Despite the messing up of quarter numbers. The poster was correct. 30 work days or 6 weeks is the minimum. Sometimes it’s 60 or 90. Pay periods is correct. It’s always the same pattern, for years. If they are making a move it will be 7/16 notification, last work day 8/28 unless in bigger window state like (New Jersey) and needs of the business dictates longer. They will just hold that money and still keep it as a Q3 payout loss.
Everyone loves to look at Warn Notices. Those dates are off the books dates not notification dates. They are not sent to the state till after the fact since they have time.
International has totally different rules and notifications which is why a bunch of GTS was already notified.
@b7 You are incorrect, the second quarter ended June 30th, not in August. The third quarter ends September 30 in the fourth quarter December 31.
@b3 very easy. The company gives 30 works days notice for everyone not in a state requiring more. That is 6 weeks x 5 work days = 30 days. This always happen on the Thursday of a pay period. Off the books is also the final week of a pay period. In this case that would be August 28 (Friday), but really August 29th since the new pay period begins on August 30th.
For the company to say this would be realized by the end of 2nd quarter. Guess when the quarter ends… the end of August.
It’s just math, consistent with how the company does it. All this stuff is presented in the wide open… most just don’t know how to comprehend it.
@b1 Hi sunshine :), since you are so smart… how did we find out about November? If you said news outlets then you would be correct! The K filling “recognized” the expense, but how did this news outlets get the exact date (since it was not stated in the filling). Vz media big guy, this news outlets post was dropped here to confirm (for all those still thinking it would not happen). Public fillings and media outlets are the only way we find out about things, because as stated before - nobody in the ELT has confirmed the date.
It’s easy to tell that no one has an idea how to get real information. This was stated in the 8K that was just filed with the SEC. Open to anyone who has an idea how to find and read these. Any financial news outlet reads major companies filings all the time.
In the second quarter of 2026, the net assets representing the Verizon Contributed Business were classified as assets and liabilities held for sale. In connection with this classification, in the second quarter of 2026, Verizon expects to record an estimated loss in the range of $700 million to $800 million.
We expect the transaction with BT to be accretive to Verizon Business Group EBITDA in the second quarter of 2026, as the net assets of the Verizon Contributed Business were classified as held for sale and moved from Verizon Business Group to Corporate and other.
In addition, as part of its ongoing transformation initiatives, Verizon expects the following
items to impact its reported financial results for the second quarter of 2026:
As a result of continued headcount reduction initiatives, Verizon expects to record a severance charge in the range of $350 million to $450 million.
Verizon expects to record asset rationalization charges in the range of S200 million to $300 million predominately related to the decision to cease use of certain real estate and network assets as part of its transformation initiatives.
Replacing US workers with people in India does not help the company or the stock price
https://seekingalpha.com/news/4613704-verizon-to-announce-fresh-layoffs-this-week
They are desperate to move the stock up. That was Dan's goal from day one and he said it. The stock is back down to what it was when he came on, none of the other cuts worked after a tiny bump. Got to do something to make news. Dan is still living in the 1980's where you can cut your way to profit.
Yes it got leaked by vz officials no clue why but it’s a pr ploy
@a1 you are 100 correct, I originally saw it and thought about “credible” being someone very high, BUT our internal media team is probably the culprit.
I’m just making an assumption here. But VZ does feed media and on their terms. For example the news posting about the 13k last year as the layoffs were happening (they were tipped off and told when it was safe to post the news). typically these outlets have internal contacts and media relations work closely with them. With this being posted I believe this is inoculating the public. With this I officially think This is gonna be another large round not some meager lay off like a month or so ago.