Rumor has it that 10 - 15% of the workforce will be cut to ensure EBITDA is made (and the VP bonuses of 50% are still paid out!) Cox looking to cut $500M from bottom line expenses, headcount is the easiest to make that target.
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@uufm Amen! You read my mind. I am a former employee. Mark Greatrex hypnotized the Cox family with his English accent and Alex Taylor (who is also incompetent to run the family business) made Greatrex the president. Installing a guy with CPG background as a telecom president was a fatal mistake by Alex Taylor. Greatrex is solely to be blamed for the demise of the company. His lead team was also no good. With fat paychecks, they just followed the English guy and by selfishly crafting their personal retirements, they have destroyed the company. While I was there, I saw talented people getting laid off. If someone had a great idea or wanted to do something new and innovative, they went to the chopping blocks.
Oh by the way, the Cox family milked every ounce of blood and sweat of CCI's employees. The family is bagging an extra $4B pocket change from their sale to Charter in addition to $34B sale price. And the Cox family is guaranteed to make $1B per year with Charter. And with their new $4B pocket change, they will do new things. I feel sad for the 10K or so employees who are about to get sacked.
Business schools should use Mark Greatrex and Alex Taylor as examples of what not to become as leaders.
More layoffs coming in the summer they gotta keep paying this guy. Some things are NOT all about EBITDA!
Company is partly owned by a family member that wants to see it SINK.
https://www.vanityfair.com/news/story/fergie-chambers
Jim “Fergie” Chambers heir to Cox Enterprises and one of the largest family fortunes in America.
"Under the terms of agreement, he said he couldn’t get into all the specifics, but he noted that the $250 million was only a portion of what he’ll receive in the next 15 years."
People in positions they are unqualified to have with little to no experience
If clients/customers knew of this they'd jump ship to other providers/advertisers
Not a good luck especially for a company who touts... "We’re building a better future."
Guthrie et al are models of histrionics and DEI hacks. Such an overwhelming waste of oxygen. Proves how to get ahead with knee pads and closed doors
The entire process has been a clown show. An “application” for VSP (as if it’s a “selective” honor); Org charts constantly changing and shared with little time for employees to make informed decisions; rules regarding the EOI process not clear and also ever-changing. And got a glimpse at some of the org charts. The marketing “leader” has exactly zero marketing experience. That ought to right the sinking ship. Too few people will be left to do the work in most departments. This is rearranging the deck chairs on the Titanic, people. I didn’t “apply” for VSP, but am regretting it. Everyone should update their resume! More layoffs will be coming by summer.
The layoffs aren’t following their own internal timeline. Full transparency for the new organizational design was due on 10-4 to be posted. Only 1 EVP posted on the due date. 1 other EVP posted today. The other 4 EVPs haven’t posted the new org design. So employee’s can’t make an informed decision to take the severance package being offered when they’re missing vital and crucial information.
I hope our leadership can learn the lesson from recent Cisco, older employees are not useless esp the ones at VP levels. Cisco also did the vsp thing and tried to remove older people from leadership but that made company on the bad position now. We need to work together in this good company!
Post from TheLayoff.com
Greatrex was an AOL marketing executive before his time at Coca-Cola. I guess that's where he got the idea for the "marketing carpet bo-b" approach with Cox Mobile from.
How are the severance packages? Hearing 3 weeks and 40k for managers and below.
This reminds me of TCI and the Tom Barbarini days. They laid off the older (higher paid) employees then realized that they removed their knowledge base and realized to late, that they needed them. What happens when a Tech Company is run by f*%king accountants. I love how Cox has you "put in an application". All that is, is a way to avoid age discrimination lawsuits. Glad I am no longer a customer because their service has already gone downhill and will continue to do so.
5% of the workforce is getting laid off. Generous severance packages have been offered. You get a bonus amount if you volunteer
This is just the beginning! If you were offered a severance you better take it otherwise your gambling with your future. Consolidation of the call centers are coming, digital sales reps will be cross trained first then for the care reps/ leaders/ managers … pushing all interactions to digital is a huge part. Good luck
It is not only non customer facing corporate staff. Countrywide all of CCI with the years.
They promoted the wrong person to be president. Someone with soda beverage background running a hi tech company. This dude toppled the company in less than two years. He needs to be one to let go … but wait they won’t do it as he has fancy English accent!
Customer facing positions just got the separation offer today. Don’t know the reason behind the last minute decision but all in-house call center reps got the offer. The company gets worse every year so of course, I took it.
This after telling us we have to go into the office 2 days a week, minimum, no exceptions while we don't have equipment to work in the office.
To foster "in-person collaboration" after they virtualized so many teams. So that collaboration is done via MS Teams...not in a conference room together or huddled around a desk.
5% layoff confirmed today via email from cox President. Supposedly only affecting “corporate staff” that have no interaction with customers. Which means my job is safe, for now… :(
This is all a result of Alex Taylor taking over. His uncle told him the most important thing to remember, which was “Don’t f—- it up!” Alex obviously didn’t take that advice to heart.
Glad I left when I did in 2020z doubled my salary and went recession proof.