So how many RIFFs have there been in the last 30 days? What groups have been hit? Don't name people but titles are fine. Or is all this layoff noise just that?
So much this. People keep talking about layoffs already taking place, and yet I've heard nothing outside of those posts about anybody being laid off yet.
We all know layoffs are coming, but no need to scare people before they actually take place. We are stressing enough as it is.
"Fairpoint was an ILEC that declared bankruptcy and survived."
They were eventually purchased by Consolidated Communications a few years after that. Same thing will happen to WIN after they come out of Chapter 11.
https://www.fiercetelecom.com/telecom/consolidated-wraps-fairpoint-acquisition-becomes-ninth-largest-domestic-u-s-fiber-provider
Fairpoint was an ILEC that declared bankruptcy and survived. It’s probably useful to look at what went on with their bankruptcy; I haven’t had a chance.
Is Windstream the 1st Ilec To file bankruptcy
Look at WorldCom
Maybe Trump "Makes Windstream Great Again".
@Yb0yHTK-jkz said "Our managers said anywhere between 3 to 6 months for a final outcome. "
I think your managers probably believe what they're saying but I suspect they're wrong.
This bankruptcy is more complicated than the two I dealt with. I was a vendor to Telergy but that was a CLEC; they folded right after 9/11 and the dotcom collapse. The other bankruptcy was in another industry.
I think your bankruptcy will take "3 to 6 months" only if all goes well -- or if all goes terribly bad very quickly. My guess is that "all" will instead go kind of through a muddle and take a year or more to sort out.
You might look at the Fairpoint bankruptcy for an example. That's the only other big ILEC bankruptcy I know about.
No layoffs
Courts move slowly in cases like these because it involves 911 service. It's critical infrastructure and lives are literally at stake. Normally you'd expect the Feds to backstop things too, but under Trump, who knows.
I don't know of anyone that has been part of a RIF 8n the past 30 days. Lots of nervous people have left on their own terms. I don't see us making any major moves this quarter and any changes REQUIRE court approval. We were told in a team meeting that our bankruptcy is complicated and there are a lot of moving parts. Our managers said anywhere between 3 to 6 months for a final outcome. Right now the courts manage the company not TT.