Does anyone know if Commscope will make it through 2023 without any layoffs?
23 replies (most recent on top)
Whodahell is Chucky?
I hear there are layoffs this week.
Constant layoffs and reorgs, zero pay rises, canceled 201 K payments, but don't worry folks, Chucky has a flight team of 8 to manage the two company jets, each valued at $12 million. Frequency flying from Texas to NY. You can view for yourself Flight reg N797CS .
It's obvious he has zero interest in the employees and is just looking out for himself.
Horrible legacy company, Commscope. Band of id--ts and totally focused on all the wrong management decisions. The exec team can’t can’t think out of a paper bag and do not value hardworking, invested employees. What goes around comes around and the CS legacy folks deserve nothing less. Long live Motorola, GI, and ARRIS employees. So thankful I left in 2019.
Layoffs are not coming in NC yet so far half the plant is having 3 day work weeks now …share prices hit under $5 !!! Haven’t seen those prices in decades !!! Need new management this place is a dump !!!
Ogurek barely made it a year and was fired for cause by the end of Q1. He was not seeing eye-to-eye with the leadership and had to go. Bart Giordano nows leads the NICS BU.
Layoffs were delayed from end of March until next week due to the cyber security incident. Everything is fully baked and ready to go; just waiting for the axe to fall.
The management team have pinned its hope on being able to refinance the debt payment due. With interest rate rates going up globally, orders falling, I do hope that they will not leave it to the last minute to find a lender of last resort. I honestly cannot see how the $9.5B debt will be cleared in the next decade, and laying off the few remaining will not make any significant difference. If layoffs is the only option, then reducing several layers of ineffectual management would be a good place to start.
What stability…. share price down to $5.86 today, bumping against 52 week lows, and they wonder why? Oh try stagnant revenues with 600m annually in interest exp on $9.5b debt, Lol more than annual revenues. I guess the execs are telling everyone, “it will be okay”, “we have a plan”, and “ no need to worry”. I bet the c-suite has the only life preserver, and you have a weight tied to your feet. That’s right they got a bonus. Good luck, don’t be a su---r. The econ continues to worsen as it is forced into a recession with increasing rates.
Which BU?
Does anyone know about the layoffs happening today at commscope?
Anyone get the vibe somethings brewing
Is Markus Ogurek still with CommScope?
Is anything od consequence expected this week with the q4 results?
Commscope Claremont just announced shut down for 8 days from February 20-28 only at the Claremont copper building ….charter and frontier put orders on hold till March ?
Typo, “without decent annual COLA or bonus”.
I left several years, and curious how dismal CS’s payout was this year? 2-2.5% annual, way less than inflation, and no bonus for the worker bees?
Apparently management is going to make sure they get theirs come he!! or high water.
What did do to deserve so many awarded shares. Another one of Chucks boys. Staff is drowning in work with COLA or decent bonus for retention and this💩 is going on. Shows how much we are valued.
Markus R. Ogurek, SVP & President of CommScope Holding Company, Inc., recently disposed of 27,852 shares of the company. The disposals took place at $8.60 per share, on February 01, 2023. Ogurek still owns 152,448 shares of the company. Ogurek operates out of Hickory, NC. Some additional info was provided as follows:
Reflects shares withheld to cover taxes incurred upon the vesting of restricted stock units.
Includes (a) 52,120 restricted stock units that were granted on 02/01/2022 and will vest on 02/01/2024; and (b) 50,000 restricted stock units that were granted on 03/01/2022 and will vest ratably on 06/01/2023, 06/01/2024 and 06/01/2025, each subject to the reporting person's continued employment with the issuer.
"I'm actually impressed with the C-suite that they are able to maintain staff, considering the huge debt and supply issues affecting revenue. Especially with Microsoft, Google, and Amazon announcing thousands of layoffs. Chuck and company are doing something right."
Mingle Dingle has entered the chat.
Layoffs cut a significant part of the workforce the past few years.
People have been voluntarily leaving at a steady pace.
Jobs have been outsourced to foreign countries with cheaper labor costs and consistent poor quality of work.
Hire and spend freeze in place. With the exception of 2 private jets and hangars.. fully staffed.
I'm actually impressed with the C-suite that they are able to maintain staff, considering the huge debt and supply issues affecting revenue. Especially with Microsoft, Google, and Amazon announcing thousands of layoffs. Chuck and company are doing something right.
It’s hard to tell if we’ll make it. Didn’t we stop hiring too?
It probably depends on the group, position, and business unit you are in. We're pretty lean were I'm at, so I don't see how there could be any layoffs. But company wide, who can say.
Your question is impossible to answer accurately. The best you can hope for is an educated guess. If you're worry about CommScope's stability, perhaps you should seek employment elsewhere on your own (if you haven't already). Why wait for the axe to fall?