My take is that they will want to make more reductions in workforce after the revenue from 5G starts pouring in. Even though that won’t happen anytime soon think that all of us need to get ready for such a scenario. Could we see a new buyout in that period or will they perform reductions via mandatory layoffs?
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There will be no revenue "pouring in" for years. Perhaps a trickle in two, slow steady in five.
5g will take a long long long time before its profitable .probably like 8-10 years
5G revenue "pouring in". Bwwwwaaaahhhh hhhaaaaa hhhaaaaaaa!!
The VSP was for management....and yes it was 2003 since they last had a buyout offer. You are forgetting about the associates. They can’t lay-off union personnel until they offer two buyouts. I believe they will offer an eisp to the associates very soon. If they are already at 2 billion saved from the management offer, I would think they could get to at least 5 billion with a offer to the associates, then they’d be half way to their goal....not to mention the monies saved from managing/insuring the pensions.
Layoffs will come long before 5G kicks in.
Nope, that ship has sailed! Should have jumped on while you had to he chance!
-epy is absolutely correct. Remember that the only reason that a big company like VZ pays severance is to reduce the chance that folks will lawyer up. The cost of the payout is less than the cost of litigation. The VSP gave them further leverage against litigation for any potential further layoffs. So expect further layoffs. Otherwise they wasted their $$ to buy me out instead of just RIF-ing me.
A former RF engineer and 12/28'er
Only layoffs..no vsps...
I think that's why they offered the VSP to so many. It was a choice (legally) to go or stay. They do not have to offer a buyout again. If people get laid off, there is no leverage for a lawsuit, 44,000 people were offered the buyout. I believe this was there way of saying we made a generous offer, after that, we will do what we need to to get the result we want.
layoffs yes. buyouts, no. They went 15 years without a buyout. There won't be another any time soon, if ever.
Remember they said they wanted to save $10 bbbbbbbbillion dollars by 2021 ? How do ya think that happens ? Layoffs and buyouts ! They are at $ 2billion ,so still a ways to go .