A team member of mine was let go today after 10 years of service. Unbelievable that this has happened. I'm a-- and I've heard that there still is a possibility of more cuts. I'm very confused and concerned about this. Any advise?
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I agree, I was laid off and am not bitter at all. I love Verizon, was very happy there but also have an MBA in business adminstration and understand that sometimes there are mistakes in business decision making and corrections that need made. Competition is real. My management was top notch in the Plains of North Central. They truly cared for me and it was difficult for them to deliver this message. The package was very good. Nice lump sum with some medical continuance. I leave VZ with a degree I didn't pay for, money and a sh-- load of interview answers for the next career I choose. Could be a lot worse!!!!
I feel as if the severance packages and the messages to those impacted and my team was very sincere and caring. We lost some teammates today, they'll be missed but I know they are also being taken care of and will be fine without their positions and will find new ones. Life goes on and Verizon is a business doing business, they have made mistakes and make wrong moves in the market but that's not abnormal for a business. It's how the world works. I wish those impacted by this layoff the best!
Advise?...Bail from the sinking ship, its just a matter of time when the ax will continue to swing. VZW has no idea how to perform with the competition it has in the marketplace now. Bloated site expenses, poor management, and no concern for the employees. All they can do is cut overhead as they have trimmed all the fat they can from operations. And it you are employed you are overhead. Its just a matter of time.
Do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.
In certain areas of wireline, RIFs are almost constant, every few months. It's horrible, but real. Now, as wireless becomes much more of a commodity, the same thing will happen there. (When I first joined wireline, long-distance was a big cash cow, not much of a biz now!) So as others said, the business certainly won't be loyal, so prepare yourself to be marketable in the best way you can, potentially allowing YOU to choose the time of leaving for a better job.
Telecommunications industry is stagenent right now. This is why the big telcos are trying to transform the business models. Expect to continue to see downward pressure on revenue and margin, that will lead to additional layoffs in the future. You have time to prepare yourself, either financially, emotionally, education, or other. Learn new skill sets and make yourself more valuable. Never expect a business to put your financial interest a head of theirs. They answer to shareholders and shareholders don't give a damn about our jobs, they care about ROI.
Yes, do your job and quit worrying about it