I've asked people in accounting who should know. They try to reassure me that they still have billions in a line of credit. But, why would lenders want to continue to loan Crown mass amounts of money when it's in this downward spiral? And, continues to pay massive quarterly dividends even though we are not profitable? I would like to stick it out until August, but I'm so afraid they will file bankruptcy before then - and the job market is going to be tough by then. :-(
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They can’t even pay the q4 dividend and we know shareholders always come before employees
I networked with a few recruiters and was told honestly that due to the company I was interested in not liking Crown that they wouldn't interview me. I have dealt with that myself. That happens with several companies. Crown doesn't have that great of a reputation with the VergX offering with FIBER. They are upsetting a lot of executives so expect some employers to just turn you down due to your affiliation with Crown.
Regarding the termination with cause to not pay severance, not relocating is the only reason they need. Since you won't relocate that provides them cause to not pay severance or unemployment. I've crossed that bridge a few years ago with another employer. Crown is smart in that respect so don't expect a severance unless they confirm you are getting one in writing for not relocating.
Don't listen to the fear mongering. Crown can pay severance and unemployment, they are financially capable and will likely advise wall street of the upfront cost of terminations and reductions in order to show future cost savings. What is tricky is IF you are eligible for a severance package. If the company has cause to terminate you, you don't get a severance. But the company can elect to provide a severance package when they terminate employees without cause to reduce the risk of a civil suit unless you have a specific contract that says your entitled to a specific severance. So I wouldn't worry about that, I'd be more worried about a forced relocation and the terrible moves this terrible management team has planned out.
Even if a company files for bankruptcy you still get a severance. I worked there and got laid off in 2020 and found a job in 6 months, it did take me applying to everything and I only got 2 interviews in the 300 applications. use your linked in and try to use your connections to find other companies to work for.
They will not.
So even though they saw your resume had Crown on it. Rather didn’t stop there and not hire you bc you know crown stinks in their mind. They then proceeded to interview you and provide you feedback that they didn’t want to hire bc you worked for crown. Seems realistic.
Don't worry about the difficulty of the job market. As soon as you mention your last role was with Crown Castle you will find the roles dry up.
I have been turned down by 3 companies because I worked for Crown Castle. They flat-out said they had bad business dealing with CCI and would not hire anyone from there. Crown Castle has left that kind of impression. It's rough finding a new role.
Of course
7B in Revenue & 2B in earnings isn't a downward spiral. The fact its a REIT an a has to pay out 90% of its earnings but choose to pay out 200% is the issue.
Oh but you shouldn't worry about getting severance because you are moving to Houston right?