Impacts many of 1+ million Fairfax County residents plus nationwide. Not so good for 29%+ (44000+/153000) of Verizon employees, nor customers when issues with fewer people available to help. For now, maybe good for the stockholders. In my opinion, foresee a sinking ship (reading into 2nd section of article below). In the future, maybe Verizon's resellers or competitors can buy parts of its vast network.


https://www.forbes.com/sites/jeanbaptiste/2018/10/05/verizon-lays-off-44000-transfers-2500-more-it-jobs-to-indian-outsourcer-infosys/

Verizon Lays Off 44,000, Transfers 2,500 More IT Jobs To Indian Outsourcer Infosys
by Jean Baptiste Su, Contributor
Enterprise & Cloud, Vice-President of Advanced Technologies at Atherton Research
246,994 views Oct 5, 2018, 12:34am

Verizon offers voluntary severance packages to 44,000 and will transfer at least 2,500 more IT jobs To India-based Infosys as part of a $700 million outsourcing deal. (Photo by Don Murray/Getty Images)

Earlier this week, Verizon confirmed that it offered a voluntary severance package (VSP) to about 44,000 employees and that it will transfer over 2,500 IT staff - some rumors suggest the figure to be closer to 5,000 employees - to India-based Infosys as part of a $700 million outsourcing deal.

The layoffs and transfers will impact more than 30% of Verizon's 153,100-employee workforce - as of the end of June - and are part of a 4-year plan to save the largest U.S. wireless carrier $10 billion by 2021.

Verizon's severance package mostly targets long-time employees - with more than 30 years at the company - and is also more generous than for its last round of buyouts, 13 years ago, giving employees 3 weeks of pay for every year worked at the company, capped at 60 weeks.

However, the severance offer excludes employees who are being 'rebadged' to Infosys and offered a 1-year retainer at the Indian company, most likely to train their replacements.

Atherton Research's Take:
-------------------------
Verizon's decision to trim 1/3 of its workforce before the start of the holiday season is both sad and shortsighted - something that will come back to haunt it.

But with a total debt of more than $114 billion, the carrier has limited flexibility to reach a healthy balance sheet while investing billions in capital expenditures (CapEx) to deploy its next-generation 5G Ultra Wideband network and 5G broadband Internet service, and pay higher dividends to shareholders: The 3 pillars (debt reduction, CapEx, dividends) of the company's strategy under new CEO Hans Vestberg.

In its June quarter, Verizon paid a total of about $2.4 billion in dividends, up more than 2% year on year.

Verizon wireless/5G is going to kill their landline/FIOS. A couple of years ago, a tech told me that they're going to be laying off ½ of their group's people over the next 5 years. Looks like that's now begun in earnest. He said their biggest competition isn't Xfinity, which is shit, but Verizon's own wireless network. He said by 2022, it will offer gig wireless for a lot cheaper.

5G will kill us all with cancer, but Verizon's gonna make a killing before then.

Replacing 44,000 people with 2500 people seems like a wise business decision.

Most business exists to make a profit, not to guarantee its employees jobs.

Better learn how to homestead fagggets!
The schooling you’ve had is INSIGNIFICANT in today’s market!
The schooling you’ve had was planned by those in positions that had no foresight in the future.
Learn to code now? I can pay $3000 for dotheads to do what US coders can do in 1/3 the time.
More and more humans are being replaced EVERY DAY!
When professions (not just jobs) are being commoditized and automated, like accountants and attorneys, where does that put your CISCO CCNA certificate?!?

Derrrrpppppp

Maybe the folks being laid off can try to get transferred to India. A beautiful country if you do not mind rampant pollution, over population and sweltering heat in the summer as you take a dip in the Ganges River.
Verizon is making a dick deal. They could not care less that the help desks are staffed with people you cannot understand.

5G isn't going to kill anyone. Your phone gives off more RF than any antenna/cell site. The closer you are to a cell site, the less RF your phone gives off and the better you are.

Sound Right Wrote:
-------------------------------------------------------
> Replacing 44,000 people with 2500 people seems
> like a wise business decision.
>
> Most business exists to make a profit, not to
> guarantee its employees jobs.


Perhaps it does, but the long term social ramifications have their costs. The rich don’t care about cutting the peasants loose until the peasants come back to string the rich up and loot their mansions. That sounds like a far fetched proposition, but I fully expect events like that to take place in a quarter century with the advent of mass automation.

Screw verizon.im switching to another company. I hate call centers in India. Boycott Verizon unti they bring it back to the usa.

Oct 5, 2018

I would rather these companies outsource the labor to places like India rather than bring these fuckers to our country where they and their children are a complete drain on our system. Let Mohinder stay in Mumbai and do his coding. His loser children can go to school there instead of being a burden to FCPS. His non-skilled wife can stay at home in Mumbai instead of requiring the resources of the county to do the most basic things. Abandon H-1B and leave these mud people in their own countries. That way they cannot overstay their Visas or have anchor babies and be a burden to us for their entire lives. Contract ends, Mohinder is still in Mumbai with his family, shitting on the sidewalk, no sweat off our back.

Oct 5, 2018 Wrote:
-------------------------------------------------------
> Oct 5, 2018

Also from article
"Verizon confirmed that it offered a *voluntary* severance package (VSP) to about 44,000 employees"

so these layoffs do not happen overnight, more like weeks and months, especially with this large number. Also there is a 60-day notice with the large plant closure law:

https://www.dol.gov/general/topic/termination/plantclosings
Worker Adjustment and Retraining Notification Act (WARN) (29 USC 2100 et. seq.) - Protects workers, their families and communities by requiring most employers with 100 or more employees to provide notification 60 calendar days in advance of plant closings and mass layoffs.

Since Verizon like other large companies want to avoid pay8ng workers 60 days pay without giving this notice for a *mandatory* layoff, its why the voluntary package was offered first. Remembering Worldcom in June, 2002 laid off 1/3 of its workforce in one day, and had to pay out due to this law as knew people who received such payment. So best case, the first workers were laid off around December. Shutdown of larger facilities take longer which puts this into 2019, as sometimes there are leased facilities with landlords, and other circumstances.

WVNN6 Wrote:
-------------------------------------------------------
> Oct 5, 2018 Wrote:
> --------------------------------------------------
> -----
> > Oct 5, 2018
>
> Also from article
> "Verizon confirmed that it offered a *voluntary*
> severance package (VSP) to about 44,000
> employees"
>
> so these layoffs do not happen overnight, more
> like weeks and months, especially with this large
> number. Also there is a 60-day notice with the
> large plant closure law:
>
> https://www.dol.gov/general/topic/termination/plan
> tclosings
> Worker Adjustment and Retraining Notification Act
> (WARN) (29 USC 2100 et. seq.) - Protects workers,
> their families and communities by requiring most
> employers with 100 or more employees to provide
> notification 60 calendar days in advance of plant
> closings and mass layoffs.
>
> Since Verizon like other large companies want to
> avoid pay8ng workers 60 days pay without giving
> this notice for a *mandatory* layoff, its why the
> voluntary package was offered first. Remembering
> Worldcom in June, 2002 laid off 1/3 of its
> workforce in one day, and had to pay out due to
> this law as knew people who received such payment.
> So best case, the first workers were laid off
> around December. Shutdown of larger facilities
> take longer which puts this into 2019, as
> sometimes there are leased facilities with
> landlords, and other circumstances.
> You're right, it's old news.


^ FIFY

Lashout Wrote:
-------------------------------------------------------
> Sound Right Wrote:
> --------------------------------------------------
> -----
> > Replacing 44,000 people with 2500 people seems
> > like a wise business decision.
> >
> > Most business exists to make a profit, not to
> > guarantee its employees jobs.
>
>
> Perhaps it does, but the long term social
> ramifications have their costs. The rich don’t
> care about cutting the peasants loose until the
> peasants come back to string the rich up and loot
> their mansions. That sounds like a far fetched
> proposition, but I fully expect events like that
> to take place in a quarter century with the advent
> of mass automation.



Verizon really needed to make these cuts, they aren't exactly swimming in cash.

WVNN6 Wrote:
-------------------------------------------------------
> Oct 5, 2018 Wrote:
> --------------------------------------------------
> -----
> > Oct 5, 2018
>
> Also from article
> "Verizon confirmed that it offered a *voluntary*
> severance package (VSP) to about 44,000
> employees"
>
> so these layoffs do not happen overnight, more
> like weeks and months, especially with this large
> number. Also there is a 60-day notice with the
> large plant closure law:
>
> https://www.dol.gov/general/topic/termination/plan
> tclosings
> Worker Adjustment and Retraining Notification Act
> (WARN) (29 USC 2100 et. seq.) - Protects workers,
> their families and communities by requiring most
> employers with 100 or more employees to provide
> notification 60 calendar days in advance of plant
> closings and mass layoffs.
>
> Since Verizon like other large companies want to
> avoid pay8ng workers 60 days pay without giving
> this notice for a *mandatory* layoff, its why the
> voluntary package was offered first. Remembering
> Worldcom in June, 2002 laid off 1/3 of its
> workforce in one day, and had to pay out due to
> this law as knew people who received such payment.
> So best case, the first workers were laid off
> around December. Shutdown of larger facilities
> take longer which puts this into 2019, as
> sometimes there are leased facilities with
> landlords, and other circumstances.

Verizon layoffs continually done in small batches to avoid federal plant closure law. See continuing layoffs at
https://www.thelayoff.com/verizon-communications
https://www.thelayoff.com/verizon-wireless?sort=active

As more layoffs happen each month in batches of dozens (under 100), employees and their families suffer and customer service? and technical support? gets more interesting as Usa jobs posted above. How can you support your customers with only 70% of the workforce you had before? Automation may take some care of some questions and issues, but not everything. Last couple of times recently called into Verizon Wireless support with a question could not find answer online, was invited to a digital chat (yeah, right, with slow typing on a smartphone on screen keyboard).

VZ shareholder Wrote:
-------------------------------------------------------
> Lashout Wrote:
> --------------------------------------------------
> -----
> > Sound Right Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > Replacing 44,000 people with 2500 people
> seems
> > > like a wise business decision.
> > >
> > > Most business exists to make a profit, not to
> > > guarantee its employees jobs.
> >
> >
> > Perhaps it does, but the long term social
> > ramifications have their costs. The rich
> don’t
> > care about cutting the peasants loose until the
> > peasants come back to string the rich up and
> loot
> > their mansions. That sounds like a far fetched
> > proposition, but I fully expect events like
> that
> > to take place in a quarter century with the
> advent
> > of mass automation.
>
>
>
> Verizon really needed to make these cuts, they
> aren't exactly swimming in cash.


And that’s understandable especially if a firm is financially on the rocks. Keeping employees on the books when you can’t afford them is negligent. I was just saying solvent companies that cut people loose just for the sake of improving their bottom line tend to regret later on.

[deleted]

Verizon is owned by Germany, according to Wikipedia

Dick Weed

now let's talk about GOLDEN PARACHUTES, betrayers, and across the isle republicans

https://en.wikipedia.org/wiki/Verizon_Communications
does not mention Germany. Did an automated Edit, Find, no matches for Germany.

Actually Verizon bought Vodafone in 2013 which includes German operations https://www.reuters.com/article/us-verizonwireless/verizon-vodafone-boards-set-to-vote-on-130-billion-wireless-deal-idUSBRE97U0GO20130901 and https://en.wikipedia.org/wiki/Vodafone which mentions German operations. Its Verizon spending billions in debt interest (much of it in the 4-6% range) https://www.verizon.com/about/investors/schedule-outstanding-debt of around $130 billion and not spending that around $6-7 billion in debt interest for other operating needs including payroll and other expenses (cutbacks leading to layoffs). Now its spending billions more for a 5G network, with mini cell towers spaced no than 2000 feet apart https://www.tysonsreporter.com/2019/01/07/what-5g-means-for-tysons/ which reality is if all customers going to buy into it if 4G smartphone are good enough for many.

ehh7c Wrote:
-------------------------------------------------------
>

> Verizon is owned by Germany, according to
> Wikipedia
>
> Dick Weed
>
> now let's talk about GOLDEN PARACHUTES, betrayers,
> and across the isle republicans
>

Golden Parachutes can agree on likely happening with Verizon. Do you a very specific URL for the Germany part?

- Debt spending, over $100B in long term debt (other posters above).

- Spending for 5G. Its not going to be cheap - https://abc22now.com/news/nation-world/verizon-says-5g-network-will-cost-extra-10-a-month and https://www.tysonsreporter.com/2019/01/07/what-5g-means-for-tysons/ How soon the coverage so it will be usuable, and how many people will accept it? Also security and regulation concerns which cost.

- CDMA shutdown https://www.verizonwireless.com/support/knowledge-base-218813/ . Really, how many people have heard about this? Verizon's public communication except by limited internet postings has been poor so far. Still millions of flip phones out there, many by older folks who not use them every day, and if they don't find out, they get stranded out in a winter storm in January with a non-working phone. Not good advertising for Verizon, similar when the derecho storm in June, 2012 knocked out Fairfax County's 911 system because a Verizon backup generator failed and remembering the Washington Post had a heyday with that. The CDMA shutdown is nationwide.

- Verizon could increase revenue by treating customers right, especially when something not go as expected. If you use any business long enough, something will eventually go at least a little wrong, maybe its your favorite restaurant, etc. When that something goes wrong, what does that business do or not to make it right will help decide whether you use that good or service provider increasing or decreasing their revenue. With Verizon, there are thousands of complaints with the Better Business Bureau. Of course, customers have to be reasonable too, so not expect the discount Dollar Tree to give you a Rolls Royce because of a mishap at the store. With Verizon, customers are paying more than average for their wireless or hard wired phone, internet, TV, and other communication services, so they expect a quick or at least timely resolution when something does not go right. Too often, this is not happening, with less than before people resources.

Jokes on you CWA.

Quote

Workers Ratify New Four-Year Deal With Verizon

AGREEMENT INCLUDES 11.2% WAGE INCREASES AND STRONGER RETIREMENT BENEFITS

Friday, August 10, 2018

Verizon workers represented by the Communications Workers of America (CWA) in the Northeast and Mid-Atlantic regions and at Verizon Connected Solutions voted to ratify a four year extension of their current contracts, which were set to expire in August 2019.

The extensions provide for additional wage increases and enhanced retirement benefits. The agreement, which extends the contracts through August 5, 2023, will deliver an 11.2% wage increase over the additional four years and covers over 34,000 Verizon workers, including call center workers, and central office and field technicians.

“This agreement builds on the success of the 2016 strike, and it will ensure a better future and good, family-supporting jobs for thousands of Verizon workers," said CWA District 1 Vice President Dennis Trainor.

So assuming Verizon has now already laid off the 44k workers out of 153k workers before (see OP), that leaves 109K, of which 34K are union (31%) and 75k (69%) are not union. Its then the remaining non-union employees who are suffering more.

So if one is now a CWA union member, can Verizon close a garage or call center of all or mostly union workers?

Ask the former GM UAW workers in Baltimrore, Lordstown, Ohio, Warren, Michigan, etc., how that works.

VZ shareholder Wrote:
-------------------------------------------------------
> Verizon really needed to make these cuts, they
> aren't exactly swimming in cash.

Somewhat, but not exactly like a not so great managed government or quasi-government organization. Question Verizon's $130 billion spend on Vodafone which the $6 or so billion in interest (note OP article says current debt load is $114B), say even at a 5% rate, on long term interest on debt could pay 80,000 workers ($6,000,000,000/$75,000 assuming average $50,000 salary/wages + another $25,000 in benefits) or could pay for other customer service improvements that can increase revenue. And how much return on investment or additional revenue did Verizon get from the Vodafone spend? I doubt anything even close to $130 *billion* dollars.

Look at the federal government, WMATA/Metro, the US Postal Service, and Fairfax County which all have had to make budget cuts in the last five to ten years, except the federal government which is drowning in debt.

Unions are a cancer that eventually kills any organization.

Perhaps Amazon can buy a controlling interest in Verizon wireless and wired. Amazon knows how to do customer service right (within reason, they own up to their mistakes when something goes wrong), and this a good addition in what Amazon sells communication wise.

THANKS OBAMA!

I can't agree that Xfinity is that bad, at least xfinity customer service works better than one of Verizon. Verizon is a real giant on the mobile market, but there are many alternative smaller companies which are pretty good, too.

DanielLee5 Wrote:
-------------------------------------------------------
> I can't agree that Xfinity is that bad, at least
> href="https://xfinity.pissedconsumer.com/customer-
> service.html">xfinity customer service works
> better than one of Verizon. Verizon is a real
> giant on the mobile market, but there are many
> alternative smaller companies which are pretty
> good, too.

Eat shit and die spammer