Someone just told me that they heard from someone that layoffs were imminent, they even mentioned a number of 700 employees. Hard to differentiate the rumor mill from reality though of course….
Anyone heard anything?
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3 days in office 2 off site new way of doing business. What a bunch of BS. Just shows you , cant believe any of them!!
The 8 week pay for lack of advanced noticed was in addition to the 2.5 week per year of service.
How does a $7 Billion dollar a year land lord with long term lease contracts not have the ability to weather the storm of a temporary slow down? Easy, profits they generate for their primary investors (reclaiming the crown ring a bell?). Every dollar you made or saved for the company was never tied to your value as an employee, but loosely connected to your bonus/RSUs annually.
I was part of the '21 lay off, and I never thought I'd see something as vile as this. That '21 lay off was purely based on fears of the changing market based on Corona, and CC couldn't capitalize on the opportunity to make $.
The EMT needs to go read the B3s again. Be real, Be accountable and be an owner. A simple guiding set of rules that if followed will keep anyone in positive standings personally and professionally . There should be high level cuts from the top to the bottom, but starting at the top. CC lost it's identity when Ben Mooreland retired and I don't think Jay Brown cares for you or anyone. Best of luck to all of you, squabbling aside theres still mostly good people there trying to do good while the EMT drives the business and the culture to an early grave. Don't blame other departments, don't blame yourself, there are no failed teams, only failed leaders. If you are impacted by this lay off, there is life/opportunity/careers/happiness/better pay outside of CC.
@2jpj+1nLjZbQ3 Is this on the services side or among analyst roles? Or a mix?
The company is offering 2.5 weeks of pay for each year of service. Way better than a blanket 8 weeks of pay.
50 employees on fiber/small cell side was announced today
The worst part of it, when CC lays off an employee with no notice, they offer equivalent of 8 weeks of said employees base salary as a part of their severance. But sending a blanketed email to the entire company 2 weeks prior. They are removing themselves from that obligation. So, essentially, yesterday's email saved the company upwards of 10 million. So those unfortunate to lose their jobs, are in turn actually losing twice if CC doesn't pay them the extra.
@1jrd, very little if at all. At least not this round. More to come…….
Deck chairs and Titanic come to mind. Jay and team, shame on you. You all should walk first. Destroying our once great company. A lot of good talented people will lose their jobs because of your incompetence.
Any word on how this will effect Fiber and Small Cell?
This a company that lacks leadership, from the EMT right down to the local level. It is interesting to wonder if any Directors, VP’s or EMT level folks will be let go? Not sure why I would even waste my time to write that as Crown Castle has lost all sense of accountability over the last 5 years. Well done Crown.
On a serious note, make sure to invest alot of unnecessary time on your mid-year review this week! Talk about an exercise in futility at this point. They should just have everyone skip them while awaiting our fate. The die has likely been cast anyway.
So much for "Us together is better"
Does this 15% include VWAs? We have a ton of them where I am. We could lose all of them and it would equal more than 15%.
This is just another reminder that regardless of what company we work for, Corporate America always does what’s best for the company. We’re just a number and we’re all expendable. They don’t actually care about us.
PURPLE is the most id--tic slogan. They really forced that in there, for no particular reason. "Us together is better" give me a break.
This is a great look for that improved culture and morale they were going for with the improved purple slogan
“Supporting teams” means corporate groups like accounting, finance, real estate, supply chain, ect, not small cell/fiber.
And a 2.5 week severance package is insulting
As long as the shareholder is okay. Fu.ck the worker. Carrier work has always been up and down. Disgusting to just trash good workers knowing that you will need them in 2 months when the work picks back up. Paying out severances and hiring/training new people sounds much cheaper.
When you clicked on the link it said that all supporting teams will “right size” their teams. Something to that effect. In other words, SC & Fiber will be laying off team members as well.
I wouldn’t be surprised if small cell and fiber are spun off. 10K nodes is a joke, and unfortunately it will be people at Crown who are the punch line.
@lrt+1nLjZbQ3 the email said all of construction services and 15% of the tower side, it didn't mention SC or fiber at all.
CC Employees will be notified by the week of Aug 7th
When is this supposed to happen?
15% of the total company. Tower isn't half of the company. I'm going to make up numbers but if there's 5000 employees 15% is 750 people.
If tower is only say, 1500 employees and 700 are cut from there... That's 46% of towers, not 15%
@idv+1nLjZbQ3
What do you mean much higher than 15% there?
@wze+1nLjZbQ3 Crown lost VZ construction work a couple of years ago now (tower side). You had ppl like M. Bryant fail to get the DISH program off the ground and decision makers were incredibly naïve to think Crown was in any kind of position to handle AT&T construction work, which was a failure. Anyone who has ever performed Site Acq & construction services for AT&T outside of Crown could have told you that Crown is not setup to do that work so we just spend thousands of dollars on outside vendors to perform the services that Crown is unable to provide. That said, the EMT is more than happy to continue cashing those monthly tower rental revenue checks and simply maintain the portfolio. I think it is fair to question the heavy investment in small cell & fiber as it certainly has not proven to have the kind of return Crown is accustomed to seeing on the tower side.
@dah+1nLjZbQ3, did you not listen? They brought more on board anticipating Dish, VZW projects etc. There has been some readjusting of the expected work. If indeed fiber and SC are bleeding as you'd like to think, then Towers would not be affected.
Chasing stock performance is bad business. Look at Disney, to maximize price thousands fired, started cutting corners on special effects, raised all park prices = parks are empty and their movies are losing money in the 100s of millions and there CEO is getting hammered.
15% of the company. Most on the tower side. Not 15% of the tower side. It'll be much bigger than 15% here.
They’re laying off 15% on towers but it’s fiber and small cell that’s is bleeding money. Makes no sense to me.
Remember last time they did layoffs while the EMT still took private jets all over the place? Good times.
Protect their own and self preservation. Nice work Jay! As the longest tenured Crown CEO, it's time for you to move on and please remember to take a few of your peers with you.
Yup, just arrived. Bet they won't cut a single VP.
When are the EMT members going to get laid off for pi-s poor management?
It’s accurate. 15% reduction in force on the Tower side, office closures, and elimination of construction services. The storm has arrived, my friends.