Thread regarding Windstream Corp. layoffs

We made the earnings call this morning!

Look, they remembered those of us given the boot on today's earnings call just as expected. My only question is what efficiencies are they taking about because the folks I know that were let go are still sorely needed in their old roles. Also, just how many were let go to save $50 million in 2018. I thought it was about 350 but that would be about $150,000 a person.

"As part of our continuing efforts to drive efficiencies and cost reductions in our business, we executed on restructuring actions in January that will drive approximately $50 million of in-year 2018 cost savings. These actions included additional head count reductions associated with efficiencies created from our investments in our multi-year systems consolidation efforts and also consolidation of certain corporate support functions. These additional cost reduction efforts, coupled with the continued ramp up in the achievement of acquisitions synergies and reduction of interconnection costs, supports our improved OIBDAR trends in 2018 and beyond."

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| 1581 views | | 11 replies (last February 24, 2018) | Reply
Post ID: @OP+RR95lF2

11 replies (most recent on top)

My take away from the earnings call was the SDWAN and UCaaS are the future and everything else can take a back seat. With that said this is pre-cursor to selling off that portion of the business or abandoning it all together. I think they will shop that around this month and make an announcement next quarter.

If you don't support that network or product(s) you don't need the personnel. Tha t would mean a reduction in workforce by 50%.

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Post ID: @2zkw+RR95lF2

The rebranding is just another way of Windstream’s leadership to try and save this sinking ship. The earnings call, from what I have heard was trying to paint another pretty picture when in fact they still have NO clue. My advice to everyone still employed at this company is to brush up your resumes and be prepared to search employment else where. When I heard about the sales personnel being wined and dined in the Cayman Islands, it made me sick. Windstream continues to spend money recklessly, they could not afford to give out merit increases in 2017, they could not afford to give out the last MICP (managers incentive program), they cut the dividend and yet we have this money to send 150 sales people to the Cayman Island, really? This makes so much sense, right?

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Post ID: @2wnd+RR95lF2

The earnings call...really we have heard it all before, l mean really what do expect Tony of any of them at the top to say, speak the truth? Tell it like it really is? It's all blah, blah, blah. Call is actually for the share-holders/board any way. The foundation of Windstream is quicksand mostly from bad decisions and investments.

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Post ID: @1xzu+RR95lF2

Funny, I didn't see these things mentioned in the earnings post on Stream today. It was all rainbows and puppy dogs in everyone's future.

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Post ID: @1tuf+RR95lF2

One final quote from today's call...

"we're taking out costs in $50 million chunks (referring to January's layoffs), more of that to come this year"

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Post ID: @1bjw+RR95lF2

If you're in EarthLink CLEC get ready...

"the benefit of breaking the CLEC Consumer business, as Bob just alluded to, is it creates a strategic optionality around strategic opportunities to sell that business"

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Post ID: @1fpw+RR95lF2

More hopeful news from the earnings call...

"as Tony mentioned earlier, we're going to be very aggressive with taking costs out of the business through the year and we expect to see severance and real estate exit costs of around $40 million in 2018. "

Sounds to me like we are far from being done with cuts.

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Post ID: @1tvo+RR95lF2

3-6 months

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Post ID: @1tph+RR95lF2

5 were cut from my group in Jan. Seems the rest of the group wasn't having it and an additional 4-5 have put in their 2 weeks and left/are leaving with alot more currently looking to get out. WS didnt see that one coming I guess seeing as how they actually went back and rehired a guy back to our team they just had laid off in the Jan round. Management basically begging us to stay with promises of safety hah. My resume is polished up and Ill be leaving soon as I get a bite.

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Post ID: @1fqk+RR95lF2

Stock price is lowest it's ever been just do nothing but fear the day when I'm told I no longer have a job.I blame it all on the poor management and letting go of the wrong people.

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Post ID: @1uwx+RR95lF2

I guess wall street didn't like it, we are trading around $1.30 a share. We lost 13% of our value today, how long before we hit a dollar or zero?

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Post ID: @1coc+RR95lF2

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