Yes, we are hearing this all over the East. Severance packages being worked on as I type. I work next to HR in an open space office and the word is May. HR are working OT to meet the deadline and get packages done. If we make it past May with no RIFs I will donate 1/2 of my paycheck to a non-profit.
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What branch of the company and type of jobs were lost in Piscataway?
Hella people got let go today Piscataway Jagoff.
Put your head back down in Powell's crotch where it came from and get back to work.
I guess OP had a bad dream before he posted. Haven't seen anybody getting laid off today.
Time to keep your word and pony up and donate half of your paycheck to a non-profit...
Some people are getting invites from there mangers for a special webinar on May 10th. It's about how to deal with change. That says it all.
It all depends on which retirement medical plan you select after severance. I left (volunteer RIF) at 55 with 34 years service in 2016 (also ex NJB/VZ) and took the 2500 indemnity plan and pay $400 a month for family coverage which is about what I paid as an active employee. Lump sum pension was $600,000 and had about $550,000 in 401k. Been pulling 10% interest and living off it nicely (around 100k a year) so haven’t had to look for work yet.
@SLVBuOt-1ahp - same for you.
@SLVBuOt-1hds - not sure where you got your info but your medical for life will be over $1K/month (individual) after your 35 weeks severance/COBRA ends. I was 56/30 yrs in w/lump sum pension so you may want to revisit whatever fairy tale you were handed. Be careful what you wish for but there's life afterwards.
Well, the noc's ED talks a great games. Prezos with lots of numbers and graphs. Another one saying, look what I saved and did to get to the VP spot he will never get, yet leaving people laid off. Automation is good for a few things but this. No.
East and West NOCs cannot keep up with the workload. Automated ticketing system is garbage, new tools are basically still in Alpha, You have about 12 people monitoring the whole country. On Call techs do not go out to fix sites OOS or sectors OOS, service is degrading, they are going for more automation and they can't even get that right
"If there's more fat to get rid of, then Verizon will do it. This is a war for corporate survival, not some welfare project."
You can't survive without customer support and techs. You can't indefinitely cut employees in a desperate attempt to make your bottom line look better. When you don't have enough techs to handle your business -- customers get impatient and leave. Laying off even more employees in this situation is like cutting off another leg or arm to stop the gangrene. There's a limited amount of legs and arms you can remove.
Also an ever-shrinking company has an ever-shrinking ability to pay off a huge pile of debt. The kind of huge pile of debt Verizon has.
Did it ever occur to you that maybe, just maybe the "leadership" is what's detrimental to "corporate survival" and that the "fat" should be trimmed there first? Or do you still drink enough of the Kool-Ade the believe buying bankrupt AOL and bankrupt Yahoo was a good idea?
One more time. A company that closes parts of their company and lays off thousands of employees a year is a dying company. Ask Sears Holdings if closing all those K-Mart's and Sears stores, and laying off all those employees was a recipe for success. (I mean -- hell -- look at all the "fat" they trimmed.)
Thriving companies make good decisions that create new business that requires them to hire more people. Thriving companies don't have time to "re-organize" themselves six times a year, while throwing darts at a board to decide who gets the ax in the latest layoffs.
Verizon is not a thriving company.
If there's more fat to get rid of, then Verizon will do it. This is a war for corporate survival, not some welfare project. You either contribute to the bottom line or go somewhere else. Hard news for all the people here to get a check.
@5ffv - you nailed it!
"1Q results are great and Verizon is doing quite well."
Sure they are (wink, wink). And after cutting lots more jobs, they'll do even better.
And then in six months, cut lots more jobs -- even better.
Next year -- cut a hell of lot more jobs. Golden!
A few years later -- nobody left to cut and Verizon circles the drain one last time before disappearing forever.
One more time. If you keep laying off thousands of employees -- you're not running a successful business.
What s---s is they gave those shares out when valued over 54, now it's 47 lol.
yea actually, VZ is looking like a buy, so much more useless fat to trim, that should prop it up forever.
meaning, the company is a dumpster fire for the employees. get out now. for shareholders its great.
Seriously, this board is nothing but butthurt retail employees and union drones who want to pretend they understand finance. 1Q results are great and Verizon is doing quite well. Will there be layoffs, sure, we have 150K employees and we let a few go every year. Is the sky falling, surely not.
@1pox, you may need to review your financial analysis skills. Today's Q1 results are excellent and some analysts are stating the stock is under valued.
I have been refreshing this board for more than a year now waiting for a RIF for retail. I NEED the severance so I can get my act together and find other opportunities.
You're right too many locations ,saturated market,too many reps, archaic quota commission system, too many Store management with no retail credentialls that are not productive,no aggressive promotion s to get people thru the front door to make sales, perception of being very expensive, be upfront with customers that free tech support in stores is really over! And get rid of the weird kid on the TV commercials ( he makes more than you even after 5 years of collecting your salary and mine combined) it doesn't work ! I'll creat an ad campaign that's more effective than the sh- t head you have now.
Please close all the septic Verizon stores , nice day in NYM , spring weather the store sold 15 phones 8 sales rep working, and the do nothing managers hanging out and collecting $80,000 a year for opening and closing a store location, save money and close them give packages the company will save in the long run. Managers had us call customers that didn't take TMP in the last 30 days for about 4 hours in afternoon not one customer that declined initially accepted the offer, 4 hours of making calling not effective, that's what's running the store, ego maniac micromanaging former slammers who create this busy work that never works. The company should put the effort to get people that want to buy in the retail locations with creative promotions that will create growth.
It is almost comical that the "fattest" area of the business is in the the Finance organization and being told no RIFs in sight (excluding the people impacted by Finance Transformation)! Take a look at the span of control for Directors, VP and SVP's in Finance. There are Directors with 2-3 employees. No other company would tolerate such small teams with the leadership being compensated so highly. Even with transformation, the Finance teams are bloated. Matt Ellis needs to look at his own team for achieving the $1B dollars in savings.
OP here, the bottom half of my check. Also, my post was about IT in every form. Engineers, NOC NUC EUS NETWORK and yada yada. Again today heard the word May 10th coming from multiple HR people in our office. People are talking about this being the last time to get a good RIF package. Many are fighting to get on the severance package list. Calling in favors and such. The IT ship is sinking and not enough life vest for everyone.
I don't believe there is a huge RIFs in retail. Company is already switching stores to indirect one store at a time. Check Daily/monthly tracker to find out what store disappeared. It happened to couple stores in my area where we saw some jobs posted online for indirect. Next thing you know reps went to store one day and HR was waiting for them to told them they're RIF'd and store is closing. NEXT DAY indirect opened up in the same spot with grand opening signs. According to facilities in my area, contractor said they had a call to drop everything on their list and work on that location to get it ready overnight.
@4bgw is a basking ridge troll. The last layoff was 6 months ago and it was huge. Try again, troll.
It's probably true, especially with IT cuts. I was laid off in 2015 and there was talk of outsourcing way before that. If there is a large RIF soon, it shouldn't come as a surprise to anyone.
This is almost exactly a year since the last big layoff. But there should be a ton more activity in here if this were true. I hope it’s true.
While I honestly think there is plenty of fat to trim, I have seen these doom amd gloom predictions on here before amd they never panned out.
Layoffs are terrible. Good luck to everyone if this turns out to be true this time around.
IOT suffered because of lack of focus. On the consumer side, Angiolet paid no attention to anything that wasn't related to Go90. How'd that work out for Verizon.
Retail will eventually go or be transitioned into indirect. I personally work in a high traffic retail location. 65%-70% of people that walk through the door are tech questions, billing issues, or bill payments. That is why you see a huge push on TMP/Tech coach. It trains the customer to seek online/over the phone help to resolve issues which leads to lower traffic into the store. That means less reps needed on hand and you reduce costs associated with non sale tasks. You charge for bill pay, this customer signs up for autopay or pays online= manning reduction. You trim the fat at the store and increase quota for the reps remaining. They will be doing more sale related transactions. You should really look at your store location and see where these 30% of buyers can walk in and completed a buy...ex. BestBuy, Wal-mart, Indirect agent, Online, etc......Retail Locations are a huge cost on the company and will eventually be turned into indirect or shut completely. If Verizon had there Online layout established and easier to use, it would already be in place. I imagine the team with Oath will help transition to a smoother online platform for sales in the future. Just be aware of your surroundings and have your finances in order. The company owes you nothing, it is a business and will do what is profitable and needed to change. The unlimited plans and reductions in monthly charges, requires an eventual offset which in turn means you'll see a reduction in manning and locations.
This explains 'Project Blue', every time there is a 'Project' something, it isn't good. Best wishes everyone. Outside of the great benefits with VZ, there really isn't anything more to look forward to in the company. So sad where they've gone, used to be such a phenomenal company and people to work for. Simply said, the good ole boys club is winning, unfortunately.
Do we know if there will be indirect cuts?
The real issue is trying to be everything to everybody. Pick a few areas and be very good at them. Trying to cover all areas with limited staff, and in many cases, with less than excellent expertise, competing against companies with outstanding and proven products, can only end in failure.
Hearing of a big cut in ITNUC. oh well, time to brush up the resume.
I really hate to say this...
This company RUINS everything they buy:
-Lack of organization
-Lack of funding
-Lack of product development and process
-Lack of FOCUS
-And ultimately, they lack the human element
How in the world did Verizon mess up: Cloud, Security, and IOT?
EVERYONE else is hiring is the areas. I really don't understand this leadership.
I would hate to be in the cold world this C_SUITE people live in...
Good luck!
If you’re in a retail store you are completely safe right?
IT getting heavy hit. Director forced to give names to HR on Wednesday, he said HR working getting severance packages ready May 4Th, pulling HR staffs from other ORGs to help because there are too many!
He said rumor was a lot of outsourcing, until last week but 1Q results were AWFUL AND NOW CUTS MUST BE DEEP!!! Hans want results, looking to eliminate entire groups. Mahmoud and Tom Madsen think they are great white hope with Dev OPS as a solution to cure Hans's woes and save $$$!!!
What IT Executive think Dev OPS is: Give Development ROOT access, eliminate change control and US based OPS.
VDSI IT will be fine, do not worry!!!!! They continue performing low-level work Dev OPS folks under Mahmoud think is MANUAL LABOR. Mahmoud hates VDSI, but VDSI are cheap and easy to boss around! Threaten them with another RIF like December and VDSI will say only "YES BOSS!" to anything you tell them to do!!!
If you work in IT Cloud or Digital Workplace like me, get ready!!!!! Mahmoud out to cut senior executives he does not like (women and white men) and keep Dev OPS (NANDA AND CHIVAS) minions who lick his a-- close to him!!!!!
You will see many IT Senior VP, VP, Executive Director, Director announcing retirements or "leaving business" shortly. Smart ones already left! Greedy ones next!!!
Leaving in May - found another job! Even if RIFed, I don't have time to make the money worth the HASSLE!!!
Be lucky if you are chosen! This will be last time RIF is good - RIF cost company too much$$
So which teams in BR are getting affected if you know
I have seen the layoff list it will retail ops, BAR, training and VES.
We are hearing the same thing in VZW Corporate Basking Ridge. 2 more weeks left to get your house in order. This will be a blood bath and the whole company will feel the pain.
Verizon Business Sales Manager here. Director told us 5/4 is doomsday. Lots of work moving offshore and heads will be cut. He heard up to 20% of the company. Lowell has to make the numbers and Tuesday's 1Q results will not be good. Since they can't sell the new BS products like Security, Cloud, and Managed Services they will make the stock rise they only other way they know how - RIF hard working US employees and move the jobs offshore to the contingent robot employees in the Philippines they can pay 30 cents an hour. Lowell doesn't care about "Making America Great Again", he only cares about his bank account and lining his golden parachute.