We are so close to the finish line!!! Time to break up the band! Or are we?
We'll still work together, some of us will just have a different company signing our checks.
Let's just get on with it please oh please!
No more delays please!!!
23 replies (most recent on top)
I don’t know what they will do but whatever they announce it will be vague, and will leave us with more questions than answers. None of which they will ever answer. This has been what they also do.
Everybody thinks they know
“Zayo doesn’t have the manpower to take Crowns fiber assets without employees (other than sales)”
This is wishful thinking. They will probably take some but it won’t be a large percentage at all. There will also be layoffs on supporting roles at Crown. No need to have as many people in IT or finance if 30% of the company goes. It will probably give the EMT a reason to reevaluate how towers is ran too. The sale of fiber will effect every person in the company from top to bottom (except the EMT).
Zayo doesn’t have the manpower to take Crowns fiber assets without employees (other than sales)
My guess is if you get laid off this round it won’t be a nice package. SM is in charge he would fire his own mom to save a nickle.
Are the RSUs normally awarded already for the next 3 years? Is that delayed? Was that the question from the afternoon with no answer? That they were looking into it now? Meaning something is definitely happening?
And this leads to the layoff comment previously...
I heard folks got vested immediately when they were laid off...
@hc+1jnf3bzme yes it’s an asset sale which means CC physical fiber assets will be owned by the new owner, this doesn’t automatically transfer the entire fiber business and the employees. The buyer may not assume or retain CC fiber employees which means there is a chance of a massively large layoff in the immediate near future.
What about all the contracts and jobs we have in process, wouldnt they need people to keep those moving? Or you saying we are all f’ed lol.
They buy assets and CC no longer has those assets. Which means you are no longer under CC because you are no longer needed.
I think many of you are confusing our situation with a merger or an acquisition and we'll end up working for Zayo. This is a purchase of CC's ASSETS. It won't take as long as a typical M&A and once its done, we'll still be under the CC flag. We just won't have the infrastructure to sell anything.
No you don’t, stop lying
The first thing is the deal is announced. The deal doesn’t close as soon as the companies agree on terms. They still need approval before the deal closes. Let’s say the deal’s announced on 3/12 it won’t close until probably the end of the year
After the deal closes. I'd be surprised if they lay people off after it is announced. Zayo or whoever will first do no harm to the biz they just bought until they can assess for themselves the best way to right-size it.
I just asked AI how soon after an acquisition do layoffs happen and here is the answer it gave me:
“Layoffs following an acquisition typically happen right after the deal closes, with the most immediate impact occurring within the first few months as companies identify redundancies in roles like marketing, finance, and sales; however, further rounds of layoffs can occur throughout the integration process, sometimes extending up to a year or more as companies assess the need for specific positions within the combined organization.”
Brace yourself
Don’t forget to get your goals in
How soon after the sale do you think they start letting folks loose ?
I'm sure there are a boat load of folks waiting for Friday's checks and will be bailing...
Maybe they expect it too so they are holding on a layoff announcement....
Let's see if they give hints this afternoon.
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Would they have to announce a deal before the forever delayed earnings call?
Does the money made from the sale go under earnings?
I know 7 people that are putting in their notice this week or next
Yes nothing will happen quickly. It will very vague and no information will be shared. People will ask the same situation on the bi weekly call and get the same response each week
If a sale is announced I have been told it could be up to a year or more before a deal actually officially closes - and then even longer to integrate in.
It will be nice to know what is happening and it is still prob a long road ahead of us.
I really hope my interview goes well so I can leave this place.
There is no hope for any future here!