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The race to offshore America!

Job offshoring in the country is gaining momentum at an unprecedented pace. Major companies are making headlines that show it’s no longer confined to lower-level positions — middle and upper management roles are now being transferred to India as well. A striking irony: those who once designed and championed the offshoring strategy may soon find themselves among its casualties. (Some may feel gleeful at that thought.)

How do you stop it? A lot would need to change, but one thing is certain, the leadership that implements this will go down in history as saving society.


LIES

This group is closer to penny wize, dollar foolish than most. Here's why. Remember all the times BH mentioned de-layering and reducing decision making authority? The exact opposite is true. I know this as I look at the list of job grades of those recently axed. Nothing higher than manager and overall average job grade let go is 9. At the same time we (they) mint more VP's. The consistent and frequent additions to the "C" suite ONLY increases beaurocrocy, time and effort to approve low $, low risk investments. Lastly, the severance for these folks was drastically REDUCED compared to previous January layoff. The thing about boiling frogs is, they all end up cooked. Demand leaders with integrity, not these imposters.


Timber! Goes Centene stock price

The company absolutely went down hill after Michael F. Neidorff died. The executives decided to save a little money and offshore to the Philippines. Guess what Centene. Americans don't like talking to foreigners.! We get sc--wed on jobs from H1B's and the companies offshore jobs elsewhere. it cost you your Medicare business and stock price.


Running for the low hanging fruit

Nothing seems to have a good captaincy anymore. Sailors are shaking the boat. In Visa domain knowledge and love for systems is not rewarded anymore. New direction is looking at easy points. Share prices stumbling. Old people are let go. Maybe if there's any small indication, it is right time to part.


Q4 will be worse

Layoffs will be bigger than the 15% wave a year ago. The goodwill write down will be in excess of 1 billion, and that will lower the EV and push Debt to Equity to over 1000%. Access to debt markets will effectively cease, and vendors that aren't getting paid in a timely fashion will Dun XRX. Also, the fact that the patent sale hasn't produced any dollar amounts, or hype from SB, means it is probably a terrible deal. Those patents are part of the EV of XRX and will further degrade the value of the company on the next call.


Smoke and Mirrors

Big companies are laying off and repositioning themselves to run more like a start up. Why? Because everyone has AI FOMO! Everywhere you look billions are being invested in AI. The work force is getting trimmed before companies understand whether or not AI can deliver on all that it's developers promise. Sending all your employees the message that they need to worry about their employment just days into your new position is not the definition of leadership. This is not how you build a winning team. The posts on this board are a reflection of Dan's leadership. You have yet to share the substance of your vision on just how Verizon will pivot. All you have accomplished so far is the demoralization of the work force. You are getting off to a very disappointing start.


Is there talk of shutting down the Ravinia office in Atlanta?

I have this feeling I’m not long for my current position anymore if that happens. I work under John Blanchards org and we just had a layoff in August. I think I’m being paranoid but since Srini is taking over soon… I just don’t know. The market is brutal now and I’m job hugging like a motherf----r, I’m not ready to leave yet.

Has any C-Level exec ever been to the Atlanta office?


Did CTO announce layoffs are coming in today's all hands meeting?

In today's all hands meeting, the CTO pretty much said Citi will follow the lines of Amazon and Meta and will be laying off people. He didn't say specific numbers and exactly when but the message to me sounds like there will be layoffs coming.


Future Back Drinking Season 2

Athina’s podcast is back…

Unsure who the he-l would listen to this. How “transformational” can a Strategy & Transformation officer be when their company's stock is only up 3% over her 5 year tenure????

She needs to go, this toxic S&T culture starts with her, absolute corrupt coward who acts like a dictator