Heard on the grapevine that the sell off to BT is now more likely than the mass dismissal in EMEA. At least for Professional Services teams working on Security products. That should buy people some security for a few years. Regarding exactly which teams, remains to be seen. BT earnings call today 21.05.
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@3a5 To be fair, they didn’t say if it was 2026 or 2027
@3a4 And it will be 25th June one week later, right
@38k Latest date is 18th June
@38k imminent means more than 21 days
So how imminent is it now? Any updates?
This whole JV thing smells like an AI hallucination
@286 +1
I hope I get the notification, take the comp and just bail on this nonsense. They’ve tortured us with all this uncertainty for nearly six months, and now if this JV actually goes ahead it’ll be absolute rubbish staying put. It’d only delay the decision to leave this dead business that’s got no proper strategy, zero culture and zero integrity left.
@26f Ain’t happening. If it hasn’t happened in the past 10 years, nothing will change it now.
@b7 Its going to be a merger between BT and verizon. Two basket cases becoming one.
Apparently an announcement is imminent....
Latest news is that BT is once again threatening to walk as there isn't enough value in the business that is offered. By my count this is the third time signing the deal with BT "within a week" turned to "well, we are continuing to negotiate".
The SVP I talked to said they didn't expect any real progress until Q4 - but I'm not sure if this is "random guess" or "actual insight"
This is the worst part because you know they know something but they aren’t allowed to say a thing.
Another week has been and gone, still keep hearing that an announcement is imminent ….. feels like I have been hearing this for months now
So does anyone actually know what’s going on?
Morale across EMEA is at rock bottom and there is very little new business activity. leadership are all MIA
Every comment here is downvoted to oblivion, guess we're onto something then!
Going to JV is worse than getting a voluntary package. They will either get rid of you in one year or you will work your ss off to defend your role.
@j7 Kind of inverse situation to the Frontier merger and inevitable binning of the Frontier staff but in this case it would be VZ Intl employees
@m2 come over to the U.K. you’ll fit right in
@m2 The only kind of English isn't it? We've got pubs older than American English ;)
@bs "binned"............I love British English 😏
@jy yes Verizon corporate customers only do business in the USA and don’t have a single office overseas
@jy I know what you feel. Sometime ago I also realized that there are other countries outside US
@j7 This is the correct advice. BT actually have the bigger International footprint and assets and will have the power dynamic between the two Groups, so Verizon employees will be the ones who predominantly get shafted and lose their jobs. Also, there is no guarantee under a JV the same redundancy packages will be offered like they are under Verizon. BT Group won't want to pay a dime more than they need too.
I didn’t realize Verizon had an international footprint. What exactly is done? It’s not like actual VZ plans exist abroad. They borrow from others.
A BT/VzB-intl JV would likely mean migrating customers onto BT Global Fabric, while scaling back Verizon operations and winding down large parts of the existing fiber network.
@gr A joint venture between BT Global and Verizon VBG sounds good on paper, but in reality, it's going to be a total mess with inevitable mass layoffs. Honestly, you're much better off taking a voluntary redundancy package now rather than risking the JV and ending up with nothing down the road.
I hope the rumours are true and something happens. I'd rather take my chances in a JV than stay working for these clowns.
If it is true, how will they divide the workforce? I'm employed by Verizon UK, but my job is largely US based, as is my entire leadership team..
on this bombshell I will buy an call option with a strike 50 in the summer.
@bf you clearly don’t have a very good understanding of what’s going on
@bm what do you think is happening right now? That process is already underway
I'm not sure if it is about the revived VZ Intl spin-off leading to a JV with the equivalent of BT, but something is brewing in the background. For sure.
What ended up happening on the earnings call?
@bs yeah, these JVs usually work out spectacularly like NSN, Nokia Siemens Networks.... if you didn't hear about it, that's the reason
@br Another post to revisit when the BT Verizon JV gets announced.....Don't worry, it'll be mainly Verizon employees that get binned.
I work for BT, 19 years! This is total BS.
@bj these type of JV takes 12-24 months to legally approve (eg UK CMA).
@bf BS? Let's come back to your post in a few weeks time
It's happening and it's called Project Rover. It will be a JV.
This is major BS. BT is actually trying to sell their entire BT Global business — the international ops including networks and security. So your rumour says they’re out looking for a partner for themselves, but at the same time they’re trying to nick our PS and Ops? Haha, yeah okay.
Just Google the Sky News leak from last Friday — BT’s investment bankers are already in talks with Orange and AT&T.
@as this is different and is imminent
If there is an organization more thoroughly inept than Verizon, it would be British Telecom.