I am a current Crown Castle employee. That was something that I use to be proud of. Now I am embarrassed to say that I work there.
I saw a bunch of amazing people who were loyal employees walked out of the door last week and other incredible people given a few months notice.
The week before the layoffs there was a VP promoted to SVP, talk about a slap in the face.
Crown was incredibly sneaky and promoted some people to Sr. PM and whoever was not secretly provided with that title is on the chopping block.
If Crown wants to change things then they need to continue from the top down. A certain C+ level executive spent a fortune on a method to install fiber and is now cutting that program back. Great waste of money. Your a$$ should have been cut for that failure.
Crown seems to spend money building out their network but they have built it in a way that they will never make any money from these builds. Again, these are decisions made by senior management yet they laid none of those people off.
They will not announce the exact number of people they laid off but I can assure you that it was way more than the 10% they claim.
They continue to play games with their books counting one node as multiple nodes and giving inaccurate numbers to the investment bankers. I would be embarrassed as well if I were in upper management but I would not lie about that. Crown has become an expert at manipulating the books. If they only put that much time and effort into running the business properly Crown would be a very successful company.
They seem to promote their friends into high level positions yet these people have no experience in the areas of the business that they are managing.
They made a brilliant decision to sue one of their biggest customers over a door at a compound opening 3’ and asked for more money. They succeeded in loosing their frivolous lawsuit and they lost the customer as well. Once again, great decision by upper management.
They built out offices that were never more than half full. Great way to blow even more money. They are now closing these offices after only occupying them for a few years. Another example of brilliant management wasting money. The only thing they did right was to close most of these offices.
Our new CEO was on a call with the employees and he said that he is already seeing ways that Crown can save money by lowering the AC and turning the lights off when nobody is in the office. Do you really need a CEO to tell you that? You can’t even make this up.
It seems that Crown has no clear path forward and due to incompetent management they are now grasping at straws. They finally figured out that spending 100k for 10k in revenue is not the way to run a business. Only took them about 7 years to figure that out.
I was watching CNBC and while this is only one man’s opinion when asked about Crown he said to stay away from Crown due to the fact that they are “incredibly poorly managed “ Mr. Cramer is 100% correct and I only wish he knew the whole truth about how poorly management managed the company.
Even though I was not impacted by the layoffs I have every intention to leave there ASAP as do many of my co-workers. We have no faith in the C level management who got us into this mess. The same C level management is still there drawing their high salaries, bonuses, and options.
Aside from closing the offices they never should have opened in the first place I have not seen one positive change since Elliott Management came in to stir things up. I have a feeling that they are probably sorry that they put their 2 billion into Crown. It is just incredible how C level management can destroy a company. They have managers who report to other managers and have no direct reports. VP’s who report to other VP’s and have no direct reports. I do believe that is why someone was promoted to SVP.
I could go on but it is just more of the stupidity that our leadership demonstrates.