Verizon has a cash flow problem, they can't afford their debt and they apparently have cut the wireless side to the bone. The corporations 2 largest expenses are real estate and payroll, so a massive offer and the subsequent closing or selling off of excess properties/businesses is inevitable. It also continues to the unfortunate path this company is taking to not just break the union but simply make it obsolete. The pension plan is coming to an end, eventually all Verizon occupational employees will simply have a job, with some benefits and a 401k plan....a contract will more or less not even be necessary
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There is still LOT's of fat on the wireless bone.
@1cls .... pretty much that is correct. For now it is an attrition came for the company. Most of us who are protected will be gone from the company within the next two contracts and before the FCC mandated OK to abandon copper. Of course, before then Verizon could spin off the wireline side and keep the fiber part of it. >
union is becoming obsolete here anyways . Should get one more contract in 2019 , then who knows what happens. Union is becoming so small here they won't matter soon . Sold future employees out back in 2003 . Hopefully everyone can get a nice incentive and go on to better things
It waseems more like a "wink" type 'wink' by my 5th level, than a "Wink wink", OP.
"company is taking to not just break the union but simply make it obsolete. The pension plan is coming to an end, eventually, all Verizon occupational employees will simply have a job, with some benefits and a 401k plan....a contract will more or less not even be necessary"
Want to make a bet on those "words"?
P.S don't piss off the Union.....They'll make your life a living hell. They just don't go away.
OP, Change the word "necessary" to "offered". Necessary means the union would agree. Offered means the company may say screw the landline union by 2019. that's a scary thought to anyone who doesn't have a pension guaranteed by next contract time...
I don't know if verizon will be ready for that in 2019, even if 5G is unleashed, thanks to state level regulation. It's too complicated for verizon to get completely out of the landline biz unless they sell, or get land based telephones/Internet unregulated. If that can happen, it could happen under trump. Luckily, for the union, the republicans now a days are pretty much just Democrats and would probably side against verizon as well as the dems would...
Only need to get rid of 1 individual. FIRE LOWELL MCADUMB!!!
I agree that the company wants to get rid of everyone who is currently on the pension. They want to have a workforce with just a enhanced 401k so they don't have the expense of paying to have the pension plan managed and the cost of insurance that they have to pay for each employee on the plan. I disagree with the no need for a contract statement. You cannot give the company that much power. You still have to negotiate vacation,job security, medical etc. or they will take away all of the benefits that union employees have sacrificed so much for over the years to get.