Thread regarding Verizon Communications Inc. layoffs

@hy VZ does not care about the energy crisis or global warming, anything like that. The peopel making decisions are interested in one thing alone- stock price. That is literally what they have a fiduciary responsibilty to care about. That is in fact their whole job. Provide/ protect shareholder value. VZ right now is in a dire financial siutation and they are absolutely going to be getting out of as many leases as they can. I bet they sell owned properties too. If the price they have to pay to right the ship is the have to embarassingly go back on their own RTO plan from a year ago then so be it. They are in cut overhead as much as possible territory.

It’s hard to tell what is rumor these days? Is it a true office closure? It feels like they brought us back into the office 3 days a week not that long ago. Or is it because of the pending energy crisis? Verizon does supposedly still care about that.

@dj there are probably a over a hundred buildnings just like that around.

@ax 5G MMW was ONE of the many failures VZ did.

Approximately 40 offices will be closed EOY. We will lease smaller offices (commercial rents are at all time low, no brainer to close and open at better rates)

@a5 some buildings are COs in addition to offices so they can't close them. We have a 20 flr building that's a true POS and SHOULD be closed, but it's a central office. The only people working there are the 2 mail clerks, 1 guard who is never at the desk, and maybe 2 union fold who must hate their home life.so 20 floor for 5 people and they have to keep it running. If they had any brains, they'd rent out the office floors, but that would take money to make it appealing bc like I said, the building is wretched

@OP Heard they are decommissioning 5G Millimeter that are under utilized to save on power, cooling and space.

@a4 Obviously theres more to it. This is a basic search you can do to check if your office is at risk. If your office is operating around 50% capacity, it doesn't make sense to keep paying utilities and other things for that little amount of employees badging in.
Whether or not Verizon owns the property doesn't really matter either, in fact if they own it out right, your office is much more susceptible to closure. Master commercial lease agreements are broke all the time.

Incorrect. There isn't some magic formula that one can use. This also does not take into account if Verizon owns the property, what the upkeep is, and if there are neaby (relatively) offices that WILL close and those employees can be relocated to said office. Among many other factors.