The all hands on Monday were being nothing burgers. They did not say anything new. They sent an email with the changes then schedule an all hands over a week later to say the same thing? This is why VZ fails. Redundant and inefficient. Bet Friday’s call will be the same. It’s evident that things will not change. Dan the hatchet man is that, the hatchet man and will sadly pass it off to Scampath who will continue to tank the company. Leave while you can. VZ will not survive this 13k RIF. Culture, morale is dead there’s no coming back from losing trust in your people.
17 replies (most recent on top)
@d9 not waiting. I retired with a severance package that paid me 60 weeks salary and benefits.
@f0 RSU replace the 1-3% profit sharing. I was happy with that. Out of site out of mind and growing
Definitely has to be comp changes tied to equity. However, that only works if there is stability or growth in the company. Example, remove RSU, then replace it with true equity, but only to have people get rif then what is the point?
Here in VBG, hearing it is comp change with alignment from SD all the way down to SAMs and CBS. Could be overall growth in module or base. The churn and burn will actually hurt. We will see Friday
All these people worried about their RSU equity. Who gives AF. Like someone else said on here. Other places do them too. Its not enough to make me want to stick around this miserable place. Things have been getting worse since 2019 when Hans took over.
@cn
$0.01 dividend increase to shareholders
anyone hear something about global comp changes
basically most jobs are getting comp cut with make up for stock
in other words your pay goes down but you get more stock options, like the rsu, that vests a few years from now
c-suite things it will get people remaining to buy into the change and be vested in doing better
i would rather not have a twenty percent pay cut on hope of something down the road
we will know more on friday call
@d1 i learned when I was riffed, you can walk into a new job making more than the severance pays, so there is no point waiting in the hopes of getting a new package. you are losing money by waiting
@OP Verizon has survived massive cuts before and they'll survive again. The question is, do you want to hang around given the workload? Not sure the meaning behind "leave while you can" is. Are you being held hostage? Vz is not unique in the corporate world and they provide good salaries and benefits. Ultimately it's an individual decision. Sampath will not be the next CEO.
Can someone write 2024, 2025 and future of Vz 2.0 to the classic song - American Pie.
@a8 So what is Verizon doing with the money they’re “saving” from all the layoffs besides paying executive bonuses to executives who continue to run the company into the ground? Layoffs and/or VSP almost every year for the past 10 years and ZERO company growth. Make that make sense!
@a8 what else can they do? Maybe announce the actual reorg changes! They’ve only announced the layoffs but no one knows if their work will shift. They need to announce the reorg immediately
I don't care, I'm just here for the paycheck and the VZ swag that I turn into cleaning rags
Verizon as all companies do just fine after the cuts and keep guess for the RTO and next layoff as this site can only do
@OP: foremost its the Verizon customers!!!!!!
@OP: when, need to be clearer as to when is this scheduled? And for the entire company or for what areas?
I wonder if they will announce RTO 5 days?
What else can they say at this point? Everyone is aware of the layoffs transpiring.
Companies have endured layoffs far larger than this and kept going as will Verizon. There were way too many layers of management and duplication of effort that needs to be significantly trimmed further. Verizon's costs are still way out of line even after the recent layoffs.