I've seen in several places mentioned that layoffs at the end of this month will be anywhere between 20 and 30 percent of the entire workforce. That's nearly 3,000 people IF it's on the lower end of predictions.
I'm having a hard time believing Windstream would make cuts so drastic in one go. Am I wrong?
g6c-1xbr - - - IF Windstream is hiring while laying off they are in violation of Federal mandated law. This has nothing to do with the union or being unionized or not. If anyone has evidence that Windstream is doing this l encourage them to call the National Labor Relations Board (NLRB) There are multiple offices in every state. They will come into Windstream and pull records, they will conduct a full investigation...fine Windstream heavily and halt hiring. Also l am hearing of age and race discrimination....this is harder to prove but also violation of Federal Law...Call EEOC....call people..tell what you know!!....please.
The same rumor went around last week. MASSSIVE layoffs. Guess what. Didn't happen. Until you get a nice little invitation to a private all-hands meeting like I did you have no clue when the reeper will come for your job.
So is anything going on tomorrow or not? Spit it out below me.
I am sure there are hundreds of job postings out there right now. My understanding is that this round is secertive and the EVP's and the board are tight lipped. We have lost a significant portion of the business value this week. Wall street decided there is too much risk and the sell off has begun. I agree that we may NEED people to run the company in today's environment but there is no long term value. Losing 20 to 30% of the employee base coorliates with the reflected value of the company. If the Analyst from Citi is correct this will round 1 of 3. The layoffs tomorrow will be hundreds NOT thousands as others have said. As others have said we will bleed people away quarter by quarter, our BUs can't support a massive hemmorage like that. After we announce earnings on August 9th all bets are off.
They are still hiring though from what I have seen and heard. I saw them interviewing someone today for a position as a coordinator, or something like that. I stopped the person, and they told me that the person said that the manager wanted to hire three coordinators as soon as possible. Why are they hiring some positions, and having massing layoffs? This just doesn’t make sense to me. Can someone please exchange the logic behind this?
How soon is the next round expected? This week...or sometime before the next earnings call?
Is this happening tomorrow?
Don’t believe me, just watch!
At least 30% including senior level positions this go around.
The REIT is sinking now at exactly the same rate as WIN. There are only two primary reasons for this.
1- they don’t think unity will succeed in untethering themselves from WIN by next summer or
2- WIN will declare bankruptcy before then.
My guess? Probably both but mostly 2. As far as massive layoffs, look for continued spread out mini layoffs as usual, a bankruptcy announcement (for restructuring) then the big axe will start to swing every 90-180 days until a buyer is found or they grind things to a halt. The bankruptcy notice will most likely include WARN language for employees and severance will end unless worked out after the fact as part of retention deals.
Everyone who has mentioned 20-30 percent is guessing. No-one has confirmed jack and no one will until it starts to happen or a press release is sent out. Considering many need a 60 day notice /etc. I'd say 20-30 percent is far fetched. Maybe a 20-30 percent reduction in salaries... not hard to do if you start at the top. :-P