get ready all, if KJ follows her plan, there will most likely be RIFs this week, quiet or otherwise, to boost the quarterly numbers. Doubt if I will be proved wrong
11 replies (most recent on top)
KJ is doing great.
LUMN Price performance
5-day -6.64%
10-day -16.93%
1-month -18.22%
3-month -34.47%
6-month -39.02%
YTD -42.35%
1-year -42.03%
2-year -90.37%
5-year -90.70%
and so far, the hype of 2024 doesn't seem to be helping much.
19 hours ago by Anonymous | 7 reactions (+7/-0)
Post ID: @1njq+1taaY7s0
What hype? The BLL hype junk? If Lumen had anything good under the hood then the stock price would not be trending back below $1.00
It is not fear mongering lot of groups have lots of uncertainty and with new leadership in multiple areas lot of unrest also on what vision they have and impact to job
I agree that if we see a RIF we'll see it closer to Q2 earnings. The hyper monitoring of everyone is real. The push to hit constantly increasing metrics is escalating daily. Same as before the Oct 31 RIF.
I genuinely hope I am wrong. I hope Q2 earnings pass with a non-event. But that is feeling unlikely.
Nah...you dont feel the effects of layoffs on the numbers right away. It takes time because remember they are still paying severance to the people we lost. You wont see the effects of layoffs until the end of this year or in 2025.
So these id--ts saying there are RIFs coming every week/month/quarter are just fear mongers looking to rile people up.
As someone mentioned impossible to get things done. The stupidity of the leadership at Lumen continues to show. People who were legit needed being some person who was providing support to multiple clients is let go and no planning whatsoever who will support the work left. Go to get some work done only to find out person is gone. Director just says find a way like we can pull as rabbit out our a-s. And the directors and VPs don’t give a cr-p to fix anything, just show up and say a few words. Been in many corporations never seen such inept directors and VPs
There's a major recession either already started or inbound for later this summer. I don't see how Lumen does well in that environment.
What teams would be hit? It's already impossible to get anything done.
There are currently quiet RIFs occurring. Multiple people I worked with particularly in sales and product are out
and so far, the hype of 2024 doesn't seem to be helping much.
They usually happen closer to the earnings call which typically trails the quarter end by about a month. I would expect any large RIF to occur closer to August.
If revenue and expense targets were significantly missed in the 2Q, there is a high likelihood of another RIF in late summer and a further degradation of the stock price. I certainly hope that's not the case, but that is the reality of the company's situation.
Lumen is running out of time to turn things around. 2024 is their make-or-break year.