Told by my friend ( band 5) that no one is out of the woods, even if they survive this round next week. They are cutting 25% across all levels now, later teams will be merged, projects will be discontinued and leftovers will be discarded possibly in Q2/Q3. Every one better start looking for oppurtunities outside.
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I hear what you are saying. But us long term employees need to balance the sizable severance vs starting to look external (assuming we survive the first RIF).
Between STI, RSU etc I’d be looking at almost one year of severance pay.
Do people think layoffs are new? Verizon had ~150k employees when Hans took over.
Layoffs have been ongoing always and forever. 15k may be the largest non voluntary layoff but we lost more with the first VSP (when factor in VSP, and call center closures at the same time)
The number of possible layoffs in WSJ total 15,000 (huge!) and Forbes 20,000 with a date of 11/20/2025 next week. This comes in light the Verizon Board was unhappy with the CEO and loss of market share. Apparently Hans is hanging around as a consultant expecting a $20 million dollar payout. This is all getting very messy fast with front line workers bearing the brunt of this decision. Thank goodness Kevin Hart got paid with his big toothy grin.
This is no secret. Dan said it himself... the cuts will be ongoing, now and in the future.
If you were ever in GTS, this was always a fact of life, yearly riffs - it's part of their business model as they can never balance a check book (was there for 20 years, this is a fact) - over spend on pet projects or over commit without the funding to please clients.....
The only control you have is to be prepared. Get that resume up to date to make it AI friendly, have it posted on LinkedIn and other platforms. Get the trainings, certs, etc. Get your name out there, start posting - even if your retained, you're getting exposure outside the company.
No way is will be the only round of layoffs
Ah reminiscent of the old WorldCom days.