At maybe 2K ees, it's barely 30 percent of the RIF we keep wishing for. Can't sell enough services or provide value added "savings" from your position, let the head counts keep rolling since this is fundamental Capitalism vs. Socialism. Kate tricked all of you, didn't she!
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000018926/000119312524107066/d799398d8k.htm
The massive investment in Dare to Lead made no sense. I’ve heard that millions were spent to train employees to be “vulnerable” and learn to “rumble”. What about fixing the real issues? Was a book study really going to turn the company around?
By memory but we can check backwards, I believe the Dancing to the Beating "Bondholder" Drums, CFO, pushed out KPI references to Q2, similar to the Investor Day Disaster Presentation last year-June timeframe. They're just coasting us into another ASM cram down "RSS" with further share price drubbings that follow. What a travesty this Company continues to be for equity owners who DARED TO LOSE with no glimpses of success in between, except the stupidity that continues to pour of the mouths of this management team, beginning with Queen Kate WAKING THE WORLD, and ending with that Charlatan CFO who has spoken with so many fork tongues, one who is not paying close attention couldn't keep track like we have.
Anticipating a sell off of sorts…Peeling off the profitable accounts and leasing rack space from whoever is willing to buy the remaining scraps. Harvesting and purging will continue until they are back to owning just the ROW sites and letting someone else take responsibility for the co’s and osp.
I had recently Worked in SoCal area for Lumen.. No new customers, and no sustainable work coming in for techs to stay busy. I left at the right time in early 2020's !. Even though CenturyLink Bought out Lumen, Lumen's management took control over CenturyLink's operations; then they fired and/or replaced all the CenturyLink's exec's and Network Mgmnt and ran it to the ground. Many Tenured Network Managers, techs and engineer's were fired or laid off. The smart ones Left quickly for better jobs, better pay and stable work. Lots of Great Techs and managers from the Original Qwest/Centurylink era still left.. Someone should reach out and grab these folks up.
Yes! Lumen layoffs will continue.
Just wait your turn and it will happen.
One must hope she is dismissing the right employees due to "lack of skills" at the right time. Legacy telecom has continued to carry many of the sins of their fathers turning many of their children into welfare babies inside the public corporate structure.
It's news items like this that will drive Lumen's future most favorably, we continue to hope.
https://x.com/lumentechco/status/1782843909258829976
Wait for Q1 results because Q1 was said to be a really big KPI for the future of Lumen. KJ was to showcase her abilities in Q1'24 to win back confidence. I don't think any investors or banks are happy to know KJ spent a lot of money for that DTL junk then only to learn many of those folks were fired. What was the point of that? Remaining employees who have any talent should really look hard at jumping ship. Shorts are getting in on LUMN shares.