I see a lot of talk on here about layoffs and how everyone should fear this week. So far, I’ve heard of nothing within the company. Is this a “wait until Friday” thing or just a lot of unsubstantiated rumors so that others freak out? Who is this supposed to affect? Techs, call centers, business, residential, management, old people, rookies?
22 replies (most recent on top)
gergetred, exactly right.
-5opm, exactly right.
A large part of these two companies that people don't seem to realize is not based on just the home subscriber and small business . The merger created the one of the biggest under ground fiber optic international networks. This infrastructure is maintained by non union and salary techs, engineers, managers and directors. The tremendous amount of bandwith being used by fortune 500 companies relies on this type of network. Jeff Story and his minions are adept at running a lean company and enhancing share holder value. They do this by trimming, cutting, laying off and hiring. It is a constant process. They don't care what you did yesterday for the company. They don't care if you built their network , that is old news. They care about showing a profit to investors which in turn that allows them to service their debt. They care about their million dollar salaries , This is the TELECOM business. The lucrative Government contracts are the bread and butter of CenturyLink. This company will never fail because the fiber optic networks of the competition are not as advanced .
In one of the above posts, someone mentions "no more residential sales" in their post. How can that even be possible? All they do is beat us in the field everyday for youcan sales. Thats all we hear. Then, try to get paid for the ones you do sell. I can't see no more residential sales. We have heard they will use contractors rather than hire CSTs though, i believe there may be truth to that because our SRO actually mentioned it.
If you read the contract you would see voluntary separation has a cap, involuntary doesn’t. So employees under CWA contract with 25 + years are way better off with involuntary separation. The company can get rid of the top anytime it wants. Don’t be such a disrespectful pos! Those old people are what made the company that’s trying to get rid of us all!
Not for two more years. Sorry to kill yr boner, dude.
When is the union contract up for negotiation? Speculative, but maybe the company decides not to negotiate to cut things quicker? They have nothing to lose based on the description of the older workforce in the post.
The interest deductibility is allowed up to up to 30% of its earnings before interest, taxes, depreciation, and amortization (EBITDA). Looks like they will be able to deduct all the interest for now. In 2022 that changes and interest deductibility is allowed up to 30% of EBIT. Now that gets tougher if things stay the same as today. Should earnings grow, which the CEO and CFO from Level 3 are very accomplished at doing, no issue. They did an outstanding job acquiring and then integrating TW Telecom back in 2014. They'll succeed here too.
Tough on CTL folks. Seems like it lacked focus and profit drive. Just get the sense from past company performance and the whole holiday bonus thing (holiday bonuses unheard of nowadays) there is a lot of opportunity to profit by cutting expenses. Unfortunate.
CWA needs a forced retirement clause in the contract to get rid of the moron top heavy old world union employees who are just going to die on the job leaving all that pension money behind because they were too stupid to deversify out of company stock and into index funds now they can’t retire even though they have more retirement funds than anyone else below them. Retire for gods sake, you don’t like your jobs and refuse to do anything more that what you were trained for in the 60’s any ways.
Central office techs mpls, St. Paul cut in half, broadband techs next, company will sell bandwidth wholesale to resellers, no more ctl residential sales. Unstaffed offices will be wired by leftovers and outside techs for now then contractors will move in, once outside is cut. 33,000 should do it. No dividend cut yet, executive bonuses still in place, only techs left will be those over 25 years under age 63, company expected Hillary for pres and same tax code now level 3 debt deal doesn’t work, can’t write down income with debt, company facing too many lawsuits and no one at the top cares about the business just what they can take. As usual company is years behind the curve and up to its a-- in debt. Can’t sell dial tone because they think it’s worth 50 a month, refuse to cut price point to market demands, raises internet price for life and fails at service every time. Dump the stock and run, this company is headed to the great garbage pile in the pits of hell.
Store closings seems to indicate a move away from consumer to enterprise. Was the CTL consumer business ever strong? Does seem like a lot of expense to run consumer, obtaining one consumer at a time versus more profit from one enterprise customer, who will also grow use (revenue) in the future.
They are also closing 10 retail locations throughout the US. I was on a call today where stores in my area were told (The stores closing were told prior to the group call). The stores will close March 31st.
I feel your pain, I had 19 Years and got let go last month. The people with 35-42 Years did not want the buyout all I heard was I want 1 more year from them. To the person above I got 26,000 and change for the voluntary package.
The quicker done, the better off the company will be and the better off the people that remain . Let us know when done.
I heard construction crews are going to be targeted in Colorado . Any other departments and in what states
These are not rumors this is real all areas of the company will be affected eventually.
Don't live in denial. They new management is now targeting older people and will be trimming head count through the rest of the fiscal year.
Read through the contract last week and you actually get more money if you take the voluntary, at least for an employee with 18 years it's about a $6,000 difference
Not doomed, they get more money if it not voluntary.
What States is this happening in?
In my area 81 people opted for the package (i saw it in writing) and only 2 were given the package. Senior man in CO and senior man in CST. They were told yesterday. Tomorrow is the involuntary layoffs.
You were told on the 14th that you would be laid off on the 13th? Doesn't make sense....
However, I am truly sorry for your devastating news. If it's any consolation, you will be better off! This company is doomed and going down the drain.
I was told yesterday I will be laid off yesterday 3/13 and I have 18 years with the company. I am a Central Office Technician. I run the C.O. by myself and maintain everything from basic phone service up to 100G fiber circuits in a large suburb of a major metropolitan area. If the people in my work group with over 40 years service take a buyout & retire, my job would be spared. But they all just passed on a buyout offer last month so I am doomed.