Thread regarding Windstream Corp. layoffs

All Hands Call with Head of HR

Will HR Leadership provide Windstream employees good news for a change or just more of the endless bad news we have becomes so accustomed to hearing at the All Hands Meeting?
Likely - leader congratulating and rewarding themselves (AGAIN), giving fuzzy statements indicating how things are going to be great once we exit from CH11 and then the usual slap in the face to the 98% of the WIndstream employees telling them to to do more with less and to never expect reaping any of these supposed rewards envisioned by Leadership for themselves once their genius CH11 plan completes.
As a distraction, and to avoid having any time for employee questions, a big presentation will be given on HR's Social Engineering STREAM posts and initiatives.

I suggest posting questions you would like HR to answer on this - here is mine

How much in TOTAL COMPENSATION growth has LR5 received over the course of the past 5 years and how does this compare to the median wage growth at Windstream over the same period and what is the justification for these extreme deviations?
As a followup question - are the 'regular' Windstream employee families of that much less importance than a Leadership members family based on this continuing pattern?

by
| 2941 views | | 14 replies (last May 10, 2020) | Reply
Post ID: @OP+14Oi4tx0

14 replies (most recent on top)

Shouldn’t Someone get paid for implementing the growth engine powered by world class broadband?

by
| | Reply
Post ID: @5tay+14Oi4tx0

These devious people are despised so much. Keep hiding like rats you crooks.

by
| | Reply
Post ID: @5yhb+14Oi4tx0

This is c-ap. Employees not even getting a raise this year?
Tony Thomas, Windstream’s president and CEO, could receive as much as $9.5 million.
Robert Gunderman, chief financial officer and treasurer, could receive as much as $3.5 million.
Layne Levine, president of enterprise, could receive nearly $2.3 million.
Jeffery Small, president of Kinetic, could receive more than $2.1 million.
Kristi Moody, executive vice president-general counsel and corporate secretary, could receive more than $1.4 million.

by
| | Reply
Post ID: @3bgt+14Oi4tx0

Preview of HR presentation on STREAM. As the original poster predicted to a T. Why doesn't Windstream outsource the entire HR department and save a ton of money?Seriously, HR is the easiest department to outsource and there are several vendors ready to take this on!

by
| | Reply
Post ID: @2ran+14Oi4tx0

the way this company treats the minions is exactly why unions were formed. If there was ever a field force that needed protection from executives and management, this is it. Also, why do executives in America get rewarded for poor performance?? This makes very little sense. Why would they need an extension if they already had a plan to come out of bankruptcy, implement the plan already.

by
| | Reply
Post ID: @2wdz+14Oi4tx0
  1. 8 mil/ year plus 10 mil KEIP 2019 and likely same in 2020. Seems driving company into CH11 is good for a few and bad for most. Same old same old
by
| | Reply
Post ID: @1rew+14Oi4tx0

$9.9 million to top 5 execs + board since filing chapter 11.

12,000 employees at time of filing.

by
| | Reply
Post ID: @xsx+14Oi4tx0

@zav+14Oi4tx0
Correction: bankruptcy filing was 2/25, not 2/28/19

by
| | Reply
Post ID: @ifr+14Oi4tx0

Executive pay since 2/28/2019 bankruptcy filing through 2/29/2020:

Thomas, Tony $3,805,161
Gunderman, Robert E 1,546,727
Moody, Kristi 805,549
Small, Jeffery 961,876
Levine, Layne 1,020,133
Board Members 1,803,797
by
| | Reply
Post ID: @zav+14Oi4tx0

There will be layoffs tomorrow !!!

by
| | Reply
Post ID: @pta+14Oi4tx0

When is this 'All Hands Call' ? Hopefully not on Thursday of a pay week....

by
| | Reply
Post ID: @xgf+14Oi4tx0

While on the topic of executive pay, here's an interesting piece about selecting an effective board of directors:
"Warren Buffett explains why CEOs prefer ‘c—er spaniels’ over ‘pit bulls’"
https://finance.yahoo.com/news/warren-buffett-berkshire-hathaway-annual-letter-morning-brief-110802826.html

"A company’s board of directors is supposed to look out for the interests of shareholders. Or something close to that."
"At the very least, non-executive directors should be able to operate and make decisions independently of a company’s executives."
"Warren Buffett, however, argues that directors are often conflicted as they have a strong incentive to prioritize the interests of CEOs, and can get paid a fortune if they play along."

Article goes on to describe the dynamics that enable this.

The problem for Windstream's directors is that their potential personal exposure at this point to shareholder lawsuits probably far exceeds the fees they've earned as directors. Directors are backed by the company against lawsuits; this company is bankrupt, though. The company's "indemnification" is in turn normally backed up by special D & O policy (directors' and officers' liability insurance). No insurer will sell you D&O insurance while in bankruptcy.

Some of the outside directors have deep pockets.

So the outside directors are screwed. Senior management probably not so much.

by
| | Reply
Post ID: @gbg+14Oi4tx0

Here's the next piece:
http://www.kccllc.net/windstream/document/1922312200331000000000002

See page 16 of 18. It shows senior executives' pay since filing bankruptcy.

by
| | Reply
Post ID: @wja+14Oi4tx0

Windstream is required to file senior officer and director compensation as part of their proxy materials for shareholders. These are available on the Securities and Exchange Commission's website through it's EDGAR system.
https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001282266&type=DEFA14A&dateb=&owner=exclude&count=40

The link above will take you to the reports up to 2018. They're quick to skim if you're just looking for that number

by
| | Reply
Post ID: @xiw+14Oi4tx0

Post a reply

: