Stock down 25%
Are we going to have layoffs next week?
Maybe replace SP with AR. Our life insurance policy rebrand is driving the company to failure. Could make former frontier exec take AR’s place and save big $$$ that way instead of cutting heads. Could also cut marketing operations too, their headcount will save a few million $ annually.
@2dw none of us know what you’re saying.
That twig left marketing operations. Apparently he is going to a competitor although I highly doubt that in this job market. Goes to show they need to be cut along with KG
layoff have been happing since last year
@19h, in Denver some of the in-person and remote U.S. based contractors were let go this week and some will be let go next week. They were notified before the stock dropped last week. Not sure of the total number, but on my floor it will be around 20 people.
Has anyone actually been laid off this week though?
approx 12%-18% cost savings needed overall but who knows numbers get thrown out all the time.
go after the middle and high management first. you will be getting much harder metrics.
Then will come to lower levels. it was stated another survey will happen to see what everyone is "feeling". Once the merger is done if you haven't seen big moves you will as that debt needs to be managed. why do you think all these tops are "retiring" now lock in what they and some were given packages.
field will be last as they are currently needed but once that need is done watch out.
CHTR is following the Altice USA journey. Execs cashed out 2 years ago. The execs in place today are holding the bag. They'll get paid...but they will have to do a ton of dirty work to earn it. Layoffs and outsourcing big time. Declining subs and revenues. Declining stock price. Its called circling the drain. Instead of using free cash to pay off debt, they'll keep buying back stock cause some banker swears that makes the stock go up. Altice USA spent many, many billions buying their stock back...and the stock kept going down. Lighting the money on fire would have been more enjoyable...
Grasslands isn't what you need to worry about. It's the 6k layoffs they're already slow rolling in order to avoid WARN and stock dropping further that should have you the most concerned. Who needs fear mongering when employees are being quietly culled by the hundreds.
What is this comment about "Grasslands IC"? Company recently made huge investments into that facility and is continuing buildouts up the hill.
Suggesting that Denver operations will close entirely is nothing more than fear mongering. Changes? Likely. Shutdown? No way.
@rx wait, what are the indicators that Denver is getting whacked?
We're not going to mention Grasslands IC is being closed with assets moved to Reno within two months as though all indicators aren't that Denver is about to be wholly liquidated?
Every group is going to get hit this year in some way.....
Some contractors in my team were notified. A lot of people are getting fired.
@ca this is BS. Facilities are not told anything in advance. They normally alert the security team a day or so prior. This is all bs because it’s easy to make up cr-p on the Internet. Yall need hobbies
@b2 what does that mean? “Facilities has been notified”? Which locations? What is the notification saying?
Lots of people notified about layoffs in 2 weeks.
@a4 more layoffs on the way. Facilities has been notified.
The cuts will continue until the stock price improves.