I wish someone would have the guts to ask if the decision to move 1300 jobs to Houston was made 30 days ago? 60 days ago? Or was it already in the works in July when we were told no further downsizing was being planned?
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My question is why close down Tower services? Paid for itself and brought new customers in. Ya know the kind of forward thinking J doesn't have. My guess is SEC and STUPID net zero contracts.
Ultimately they're moving the business to be near the EMT. Why move 4 people when you can move 1000? Its absurd and typical, TYPICAL bs since Ben left. The selfishness is unparalleled. And they're all churchy. Its gross mismanagement. Imo
J should have never been made CEO. Its a rare thing for a CFO/accountant to have that skill set. Ironically J former CFO is tanking Dan current CFO. J's obsession with enterprise value, running up debt and keeping cash low, accounting BS, is why we're here now.
There's more to growing a business than accounting metrics. Lets start with an HR department that can actually resolve issues without ostracizing everyone that dare cast a shadow on their door. Most companies have one HR per 400 employees - how many does crown have? pA-lease.
purple values on full display?
Tell me you’re laying off >1,000 without telling me you’re laying off >1,000. 4 snake oil salesmen.
The way Dan spoke of his departure in the meeting made it seem as if it wasn’t entirely his choice
@bkz+1pef9WZw I saw what I saw. The mask came off. If he didn’t want to be there, he shouldn’t have reached the decision he did. Teddy is part of the problem, too. Jay Brown is probably going to be next out the door. While the fact that 1K people in Southpointe are essentially losing their jobs, an equal question is why is the CFO stepping down?
That was not typical Teddy. He is normally friendly and smiling and far from condescending. I am sure none of the 4 wanted to be sitting up there. The only person who should have been there is Jay Brown.
None of those 4 answered the best question “Where is Jay??”
Shout out to the person who spoke about the elephant in the room.
Interestingly, I was told when Bob Crown originally sold to Castle Communication that they wanted to close the Pittsburgh office then but he made it part of the deal they had to keep the office here. Guess they always wanted to get rid of Southpointe.
Teddy was the most condescending by far. Dan seemed ready to either breakdown in tears or explode with rage.
The “Where’s Jay?” statement in session 1 was pure gold. Thanks to whomever said that!
I'm sure it was planned since the new Houston office was planned. Why else would they build such a needlessly large office in a secondary location.
Technically not a downsizing (ha) just relocation so in their mind they were being honest. I'm sure this has been planned at least a year.
So, we're using a period when the company isn't doing well to spend over 100 million dollars to relocate roles. I guess I'm just smart enough to understand that logic. I'm just one of those untalented Canonsburg people so it's over my head.
My gut says they’ve wanted to do this for several years, even before covid, and they’ve just used this downturn as an excuse to accomplish it.
How long ago did they start building a building that seats ~1,500+ when only ~400 sit in the current office?
It was announced in 2019:
https://www.bizjournals.com/houston/news/2019/04/05/crown-castle-building-houston.html?ana=twt&iana=hpmvp_hstn_news_headline
One would think expanding Southpointe to handle ~400 more employees and pay for less employees to relocate or resign would be more cost effective. A new $55M HQ makes sense though right? Building 2000 was built to expand on both wings, but that's back when we planned things. Now we only execute the loyal and half baked ideas!
They addressed that in the FAQ already. Wether it’s true or not…