https://www.fierce-network.com/broadband/lumens-ceo-delivers-bad-news-first-then-good-news
“Lumen’s President and CEO Kate Johnson was surprisingly candid about the company’s legacy telecom business during its third quarter 2024 earnings call this week. She said the company’s current financial results, coupled with the fact that telcos are not talking about a turnaround, make it difficult to imagine long-term success for Lumen.“
"Still here? After how many name changes, after what merger, after how many re-brands, after how many CEO's? Lumen is just a result of failing companies being hacked up with leadership being swapped out every few months!
Still here is Microsoft, Amazon, Google, Boeing, GM, Ford, Disney. Lumen has no right to says it is "still here". LUMN stock tanking and last Q results missed target yet again."
So is mcdonalds, burger king, walmart...we can do this all day. Whats your point? Trying to convince anyone the legacy services are gone? They are in fact, still here and still being used. Prove me wrong. You should also work on some reading comprehension. "Legacy services" is not the name of a company. Its a product.
Been saying that for 10 years. We’re still here.
15 hours ago by Anonymous | 3 reactions (+3/-0)
Post ID: @crac+1vpwIMbV
Still here? After how many name changes, after what merger, after how many re-brands, after how many CEO's? Lumen is just a result of failing companies being hacked up with leadership being swapped out every few months!
Still here is Microsoft, Amazon, Google, Boeing, GM, Ford, Disney. Lumen has no right to says it is "still here". LUMN stock tanking and last Q results missed target yet again.
Been saying that for 10 years. We’re still here.
LUMN minus 10% today. Guessing the pump-&-dump's are manipulating once again.
3 days ago by Anonymous | 4 reactions (+3/-1)
Post ID: @3gxw+1vpwIMbV
Maybe the Kate selloff is spooking the investors?
"Well apparently so have Data Centers! As of today’s big email we’re going to Cloud-ify everything…so everything internal has been a drag and a burden on the company"
Lumen is making themselves more attractive for a buyout.
LUMN minus 10% today. Guessing the pump-&-dump's are manipulating once again.
Klaus Schwab is the new Brené Brown… we’ve now gone from Dare to Lead to you’ll own nothing a be happy!!!
“Yeah. Unions has definitely wieghed this company down for years. Good riddance.“
Well apparently so have Data Centers! As of today’s big email we’re going to Cloud-ify everything…so everything internal has been a drag and a burden on the company, per the Goggle partnership everything is going to an AI management platform … so Good riddance to middle management as well..
Tell your family, there will be no Christmas this year and no bird for Thanksgiving.
"Would that mean the entire Union Employee Base and commitments to pension contributions while carrying liabilities would be gone forever along with LEGACY TELECOM? With a business that can't grow connecting to such high labor costs, especially after the massive whiff of inflation of the past +two years, this will be a very good thing."
Do you think the company gets to keep the billions in the pension fund? Are you in favor of thousands of people being unemployed and losing their retirement? Lets say you are correct. Who will do all the work if the union is gone? You think there is enough scabs to replace those union jobs? I'm going to go out on a limb and say you think the union employees only work on the copper. Correct? They don't place fiber, splice it, maintain it right? They don't maintain power and air pressure in CO's. You know, those buildings the fiber comes from. They don't install it in houses along with modems/pods/wifi? They don't install and maintain Hi-Cap circuits for 911 or lottery systems. (Although alot of that is still on that old copper). How about your billion dollar multi state company having a MOE circuit installed tuesday and a guy in his 1989 chevy pickup with 2 weeks on the job shows up to install it? Says he just got hired and used to be a satellite dish installer. You get the idea? Hope you do because for about 5 years that's the direction this company has been going. If you think things will get better or they will make more money by having less commitments to real employees than you're part of the problem not the solution. If that's the case you should jump on the SLT train.
What really weighed this company down was a mixture of a few things. Bloated ranks of inept management and executives that knew nothing and still dont know anything about running a utility. Add in a sales force that doesnt know anything about the products they sell other than sell sell sell. Even if the customer doesnt agree or knows what theyre purchasing or how much theyre paying just tell them what they want to hear and create an order. Finally, this new company sealed its fate when it went cheap. Hiring unqualified contractors and premise techs to do the work along with sales and repair. There's a reason they all quit or get fired 2 weeks, 6 months, or a year into their employment. But yes, the union has weighed it down. Anyone who has been here more than a few years knows how much smoother this company was run before the doors to incompetence opened. To the original poster go ahead and be angry little fella. Are you pissy those union guys make more than you? Dont worry, if youre a mid manager or a contractor youll be gone soon like many before you.
Yeah. Unions has definitely wieghed this company down for years. Good riddance.
Would that mean the entire Union Employee Base and commitments to pension contributions while carrying liabilities would be gone forever along with LEGACY TELECOM? With a business that can't grow connecting to such high labor costs, especially after the massive whiff of inflation of the past +two years, this will be a very good thing.
Sure is funny how Verizon see's value in Telco after their recent purchase of Frontier to expand fiber Internet? Wonder who's brain trust is right ?
2 hours ago by Anonymous | 1 reaction (+1/-0)
Post ID: @2ibc+1vpwIMbV
Lumen has to abandon Telcom because it does not know how to do Telcom. So the move makes sense. Lumen's dismal Q3 results are obvious KPI. Lumen has no choice but to ditch everything except fiber laydown. Lumen will eventually be bought and it makes sense. Kate is moving Lumen in the right direction, it unfortunately means a bunch of the company has to get the boot. Stock price is overvalued.
This AI bubble will burst. If companies want it so desperately they would pay up front to be at the top, but dreams of sales don’t save companies. Only once in the bank it’s a real earnings.
L3 already had assets in the ground to support this immediate trend why spend billions without a signed commitment and deposits? Over hyping the stock will look terrible in the near future. And the employees will take the hit instead of the massive upper level employees that just keep getting hired
Sure is funny how Verizon see's value in Telco after their recent purchase of Frontier to expand fiber Internet? Wonder who's brain trust is right ?
SLT has no understanding of the business, they look only at top-line revenue numbers and have no idea of how to build a "moat" using the multi-pronged approach that selling the customer more than 1 service entails.
They took their golden accounts, customers that every telco would want, sold them Merakis and then neglected them by giving them tech 1's as support, all of this happening under the "faffer-in-chief" that Enterprise support was under.
Now they are chasing the "AI bo-m" without understanding the first "AI bo-m" that was in the late 1980s was followed by: "AI Winter" which ki-led off a number of companies.
It's the failed Level3 model all over again - focus on big commodity deals and neglect the rest.
We're going to be sold or worse yet spun off to die on the vine would be my guess NOT Good!