Over, it’s been over. Water has been pouring into the Lumen hull for 10 years. The stock is down 88% over 3 years, 30% this year, and down this week as well. And let me check today. Yup- down. Those temporary gains from last Monday's RIF's have already disappeared into the reality of it all. The value, or Market cap in 2021 valued Lumen at a $15B company. As of today, the market value of Lumen is $1.23B. And the debt. $20B. In reviewing the last quarterly statement, Lumen can't even break even, forget paying any of it. 4Q Rev down 17% from a year prior. Every segment less the public sector is underperforming. Many local and global Network Assets have been sold to keep the lights on, and many support and overlay support groups and tech’s have been let go, which will make even it more difficult to sell and install products. Should be an interesting call today. I may join just to listen to how they spin this downward spiral, and how Lumen is "disrupting" the business. Stock is down 10% in the last 5 days. Wall Street already knows.
13 replies (most recent on top)
There's another RIF coming. Lumen is not selling fiber and exaswitch like they say they are.
It’s tomorrow. Fake News!
“Tomorrow is another sad day for some union employees across several departments. This is not voluntary. It is so sad people lives are being ruined after years of dedication.”
Even a dead cat bounces once ...
Please let me win the lottery
Tomorrow is another sad day for some union employees across several departments. This is not voluntary. It is so sad people lives are being ruined after years of dedication.
No one is safe and its not over. According to an article I red Lumen is laying off 1,1960 employees, or about 7 percent of the work force.
So you're saying there's a chance?
The process of shutting down legacy services have quietly started.
One of my remote devices went offline last year. It took 8 months to engineer, purchase, and install a replacement switch.
There were plenty of UTC complaints but the managers were told not to budge.
Let's see...since the inception of this great transformation and shapeshifting (as we are told now): 1) the workforce has shrunk by 66% and SLT has grown 3 fold. 2) We are on our 3rd re-branding campaign. 3) we have gone woke and full scale global DEI on your a**. 4) I have loads of real world customer scenarios & experiences that PROVE this... our IT Services company we are transformed to are "last in class" and we are in a heap of trouble if this is our market messaging and main revenue stream going forward. 5) Making Level3 "cronies" SLT after CTL bought them...the same "cronies" that racked up $45B in debt before "merging". 6) Restructuring said debt and kicking it down the road 5 years should really go down as one of the best defining moves ever....ask the FED'S, your SS and your kids in 15 years how that's going. 7) Without federal subsidies, where would fiber placement for growth be? Lots of Competition out there anymore 9) Probably the main one...THERE IS NO NEW REVENUE COMING IN!!! Other than Short term Federal contracts and SLED monies (which could be there in 4 years or not depending on which party gets elected), we are completely hemorrhaging at the seams.
Nothing is pointing up around here other than more SLT & the golden parachutes they float away on and oh,oh,ohhhhh almost forgot...the North Star!
Not over anytime soon unless they sell. TDM, POTS, DSL eqpt will soon begin the shut off process and more will be let go. Since we have all the FCC regulations it will drag out. But in areas they can, they will start turning off eqpt. Watch what happens to pairgain sites . Its coming
Let me check with SLT and the majority stock holder....be right back!
By that I mean for at least the foreseeable future.