The Verizon Board of Directirs did a horrible job in evaluating CEO replacements for Lowell. Hans is a loser that screwed Ericsson so bad that they have yet to recover. Since joining Verizon, Hans’ jet-setting ways continue — just look at his Twitter feed over the last year for trips all over the globe. Lowell thinks Hans has streamlined the Network teams over the last year, but they are still very disjointed and don’t collaborate at all — lots of silos! Plus, word on the street is that SVPs rarely saw Hans in BR. Yes, fresh blood was need but this blood is contaminated. Hans will be kicked out in 2 years, maybe 3.
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Totally Agree , we are feeling the heat now in Verizon Data Services India operations (VDSI)
rumors on that VDSI operations will be taken over by IBM / Delloitte / Accenture. There are Layoffs happening regularly at VDSI and more to come in the near future. VDSI folks start packing your bags to jump off to a new organization.
The combined Sears and Kodak will be branded as "kears"
I lol'd at this, honestly sounds like something management would have come up with.
probably better at buying another failed .com, at least with sears you would have the buildings.
VZ just do what your good at, charging a huge premium to people for slightly better service and employing people pushing paper around.
Texas relo seems far fetched. Must of the current (non sales or field tech) job openings have a BR requirement.
Forgot about the Texas relocation. Yup! Thats coming too.
@1tdw -- yep, completely agree with that. When Vestberg was brought on board it was obvious he was to be the replacement for McAdams. Vestberg, like other "destroyer CEO's" has only one purpose and it is a 3 year purpose...take the company to zero or near zero.
If he does it in an honorable way with buy outs, EISP, etc. then he will be exalted; on the other hand, if he whole-sale guts the company the Feds and others will be looking deeply at him. Taking the low road will bring a lot of Union and political trouble for Verizon.
I would strongly expect the HQ for Verizon to be entirely moved to Dallas, BR to be abandoned and the politics of New York left behind. This also puts a nice distance of separation between CWA and Verizon and would further drive a Wedge between the company and the union. Part of what is happening is the old Bell management will be entirely gone, and one can only hope, will be replaced with a better management that understands how to operate as a start-up. I believe a part of Vestberg's action will be an entirely new management team to run the remains of the company for the future.
Look at the big picture. He is a hatchet man. He will come in, turn Verizon on its ear, and bail.
He will do the following:
1) Outsource as much of the business as possible.
2) What he can't outsource he will streamline. Synergies, consoldations and reorgs galore.
3) He will break the union or break up and sell wireline. Or both.
4) He will reduce regional offices by 50% and pull everything back to HQ.
After all this is done, he will depart. He is not here for the long haul. He is part of a drastic cost cutting agility effort.
After hearing the news, I updated my resume and started applying to jobs this weekend. Its going to get really ugly and I don't want to be a part of it.
who else would you want in charge with all the layoffs coming?
Spot on, he can't run a company like VZ esp when he was unable to run a European company with his European background. Network is a big gorilla that Hans cannot tame. What about experience outside of network, related to business etc. Ericsson was a b2b company, vz is a b2c company, day and night difference. Lowell also put the blame on board for his selection, may be he is looking to be called as last good ceo that placed Vz at the top in industry.