"Another round of layoffs expected to impact 10 to 15 percent of our workers must be completed by November in order to meet our dividend needs."
This was told at the director's meeting this evening. When will this stop?!?
26 replies (most recent on top)
If anyone gets a new job, do not update your LinkedIn with new job at new company. You don’t want Crown knowing where you go.
@2cv tell me you work in fiber without tellling me you work in fiber. Learn about spectrum and how it works
Nov 1?
@a7 Starlink (and others) are going to eat their lunch. It’s over
When I was laid off in 2020 along with a couple hundred, there was no WARN. They simply paid us an extra sixty days on top of our severance and called it a day.
I did a general WARN search for the last 60 days, and nothing came up. That doesn't mean that Google is 100%. I have yet to hear anything or see anything come across UKG either.
I was told this morning that they laid off a small group of people? Is that true?
It's leading ops. We're already too bloated and now with BOOst, many unnecessary mid to upper management headcount to drop. Get out while you can!
@z7 they are legal obligated to maintain network head count genius. Network isn’t part of crown anymore. This is all towers good luck wonder who else can you blame.
This has me thinking it makes sense to take advantage of this round of “towers” layoffs to also offload network and SC folks before the final transfer of ownership to the buyers of network / SC. I can’t see why they wouldn’t do cuts across all — towers/network/SC. In 2023 they cut all three groups…
@yz they don’t have to do a warn if they give you enough severance
No WARN yet - https://www.warntracker.com/?company=crown-castle-usa
And fiber was the problem.
@ry we never have to worry about the WARN act because our severance covers the entire notification, and then some. So any penalties would be less than what they’re actually paying the employees that they let go.
As for small cell and fiber, the agreement with the buyers is that we maintain our current staffing so unless they approve of a layoff, it’s not happening for them.
If they say 10-15% it really means around 20-30% maybe more
Nov is 2 months away and WARN act requires companies to notify 60 days ahead of time. I have a feeling it will be all towers, fiber, and small cell employees and not just towers.
Bonuses will be fine because they will essentially have the same results with less overhead.
For those that were cheering when Network was sold, this is karma….without half the employees and one carrier and need for support, the towers people are on the chopping block.
The good thing for Network is that you have a job through the close. Then, if they do let you go, you get the severance package on top of the “retention incentive,” and will be well ahead.
Don’t get me wrong, it su-ks for all, but maybe we can find some fleck of gold in the cr-p we are sifting through.
That makes sense. I know people want a company to keep people around even though there is no work but that’s not how it works.
You can kiss the bonuses and RSUs goodbye!
It’s true, from C suite intel. What the OP stated is true but sadly the Tower teams (services) will be affected deeply including managers. They will reorganize as needed to fulfill the financial obligations to the investors.
Agree Crown will eventually be sold. Just a matter of time. It's over.
I was in that same meeting. Per the agreement, the headcount remains for the fiber and small cell sides. The meeting is for the tower only side.
The meeting is because of the spectrum sell off with Dish. Their planned builds are no longer needed since the major carriers bought up the spectrum therefore 10 to 15 percent of the towers workforce is no longer needed.
The OP wasn't fully clear. The meeting was only 90 to 100 people with most all upper level executives, directors, and senior managers.
They are cutting the people who are already planned to cut, but were extended due to the sell
Everyone is getting laid off it’s just a matter of when….
As the stock price continues to fall retention incentive and bonus will change and layoffs will occur, it’s all orchestrated.
All those not staying with crown will be let go within a year.
Tower will then be bought out and that’s it. Crown ends.
The whole thing is done, just time now…
Oh here we go again with this garbage. I’ll say it btwn now and 2098 there will be layoffs
@OP why would there be layoffs before the sale is completed if crown agreed to maintain headcount? Post say" this evening" but posted 4 hours ago ? Why wait till AM?
When it's back to tower only employee count will be down to 12 - 1500 people period. It's a rental company. It'll be back to 2012 levels. Maybe less with improvements in tech. Tower folks got what they wanted now they'll have to live with it.