Thread regarding Verizon Communications Inc. layoffs

@ap
CDMA = the answer

150% Vacation Carryover...Corp Bloat!!!!

The more I hear about Verizon's generous ways (i.e., severance guidelines, vacation carryover, STI, etc) the more I really wonder how it ever turned a profit 📈??

This was planned before Dan. That is why they made the change back to carrying only 150% of vacation. They wanted as much of that off the books so they didn’t have to pay it out with the RIF.

I think Dan may have pulled it in to 2025 a little, but the vacation reduction was clearly a move made to support a large RIF.

Unfortunately, layoffs are part if the reality of Corporate America. 🇺🇸

When things are going well it's great because the jobs are pretty manageable to have work life balance and they pay fairly well.

When things are not going well it absolutely rots working for a large corporation.

Dan and the board saw the direction of the company and needed a strong pivot. Who knows, maybe Hans said “no” this is too much a change and the sliced him up too. Who knows. All I know that if we survive, we will go through this again in Feb and again next Nov.

I didn’t post to take blame away from Dan. I posted because these layoffs were coming no matter who the CEO was.

It’s incredibly sad how many families will be impacted and it’s going to be very hard on insanely great people who’ve given everything they to VZ. Please be smart with your severance packages and be ready to market yourself.

You are correct. On average, VZ does 2 layoffs a year. They probably started working on this RIF after the VSP. Just like they're working now on the spring RIF. The difference is they usually aren't as large and they previously didn't leak it to mainstream media in advance.

Dan is the victim :( he is being made the bad guy when he simply just wants 9 digits from two years of work

@a2 Up to 100 Million read 8K filing if stock price hits 55-75 a share.

Great post and only additional inisght from a long long time Vz Sales leader… the temp CEO takes the hit cutting jobs for tge next CEO to then be operational and resukts focus.

My additional caveat is Hans rightly was immediately removed to ensure Frontier acquisition is approved.

Hans lead a DEI culture and played to Artic Frost cell records released while AT&T rightfully followed customer privacy.

Based on 8 years of failure and uncontrolled customer privacy culture it only made sense Hans had to go immediately.

Best of luck… looking forward to a future culture that I had the 40 year pleasure to be a small part of!

100 % his call. This isn't compy first time with this, and they brought in outside help to make it happen

i agree. dan was simply paid $40m to pull the trigger.

@OP He's the mfic. Of course it was his call.