here is the link:
https://www.crn.com/news/networking/lumen-technologies-looks-to-offload-5b-consumer-business-report
I wonder which states are being sold, headcount the are going to take and how many they are going to get rid-off. It was a good ride until Nachiooooooooo messed things up and so many lossed opportunities. Also want to mention our other Ceo Sol Trujillo thanks for for the memories.
What's your thoughts ?
The most recent investors who bought it out of bankruptcy did not in fact buy "the company." They bought just some of the assets. This meant they could dump that entire union-based labor negotiation system:
By buying the Hostess assets out of bankruptcy, Apollo and Metropoulos took them on free of employee benefits and other labor obligations that had weighed down the company. this is coming
for apollo look no further than hostess , what happen there, good luck
No matter who owns it the only up side is if the are going to invest in fiber for residential and smaller business. Then we become a growing company instead of a shrinking company. Dsl was good for a period of time but can’t give people the +100MB up and down that they want
The funny thing is that none of you have even looked at what companies that apolo has under it like ADT, they are still in business and doing well. As far as the guy or girl that said Centurylink is a anchor well that anchor is really level 3 and it’s pi-s poor management team. And if it wasn’t for the union members none of us would be making more than 15$ an hour. You might want to look at the history of telecommunications and where it came from. Or you must be a pencil pusher which you have no idea what work is.
Private equity owning consumer side would bankrupt the business. They will load it up with debt as revenues first finance the debt load. As they fire management and cut the workforce further, customers will permanently leave as maintenance further deteriorates. Appolo will sell the debt to wall street pensions, endowments and other suckers and cash out.
Who did Storey and the activist shareholders work for that combined L3 and CenturyLink? Cable companies couldn't have orchestrated a better take-down of their competitor. This is American business and has been since the 80s. Notice how everybody up top gets paid and people at the bottom get screwed. Consumers pay more as a competitor leaves. Money accelerates upward and so does inequality.
Finally. Centurylink is a real boat anchor. Oh and the Union. Good riddance.
Good thing for Apollo you aren't them. NM is a tu-d that can't be polished. CO and AZ are only doing well because USW and Qwest way over invested in them relative to revenue/customers. Without siphoning off money from other states, they'd be even further down the drain. Too bad PNB and Pac Bell weren't reunited at Divestiture instead of being hitched to boat anchors MB and NWB. Can't unring that bell now.
This is not good, this means more layoffs once Apollo gets its hands on it, they will improve operational efficiency by getting rid of many management positions, for sure many 2nd and 3rd level will be gone. The article stated that not all states would be included, if I were Apollo, take legacy Qwest territories (Arizona, Colorado, Washington, Minnesota, Utah, New Mexico). How it would work, who knows, but what I know I need to get out now. Just waiting for another VSPP to come before years end. Things are going to get real for many. Wish everyone the best, its going to get ugly and interesting at the same time.
It’s pretty messed up what Storey did. Got mad because level 3 was purchased, got a few friends to threaten to sale their stock (which would have crashed it) & wormed his way into the CEO position. Just to strip away what he could from Legacy blue, set it up for a collapse, then off load it. Not giving a cr-p about the employees lives he will ruin. My proof to this is when he spun off residential fiber (which CTL had a lot of & was growing at a rapid pace). Named it “quantum” & left the copper side “centurylink”.
He has a vendetta & will ruin as many lives as he can to “get even”
Better believe it
The layoffs and VSPP have begun in south Florida.
I had heard they wanted to be in the last stages of transition and going forward with their new plan in the 4th quarter, I expect another VSPP and Surplus to make the turn into 2022 look like they righted the ship, that would mean the sale as well. The last round of cuts was very deep and they are rebalancing again, lots of transfers going on also from copper base to Fiber base. Anything the sponge or leech if you will can absorb they will with little cost, anything that looks like it could be an expense will be rolled to the new buyers. That would be Employees also that are getting Bennies and not making 24 an hour or less that don't also support their core products.
How funny that they identify this as the 2nd time we have tried to sell off the consumer side. Dare they mention that the first attempt has been going on for about a decade without pause. If this holding company is buying us, they were probably founded by us with our money to purchase our less attractive assets from us using our money only to fold once our liability is gone. Isn't it somewhat reminiscent of Frontier's relationship with Verizon.
Believe when i see it