Verizon says to shed 10,400 jobs by mid next year • Hacker News Board

Re: Verizon says to shed 10,400 jobs by mid next year

#81

Post by devmunchies » Mon, Dec 10, 2018, 6:13 PM UTC

padseeker wrote: post #63

nafizh wrote: post #57

Earlier quoted context omitted.

I don't know how many times Republicans have to try these to understand it doesn't work.

They understand good god damn well they don't work. This is exactly the plan. Sell people on the idea it'll help them, then these companies take the money and run. What amazes me is some working people will continue to vote this way even though it keeps failing. I guarantee there will be more tax cuts sold in the very near future, and the same people will buy into it. Some people never learn.

> take the money and run

its their money though. its the government taking the money.

Re: Verizon says to shed 10,400 jobs by mid next year

#82

Post by hnuser355 » Mon, Dec 10, 2018, 6:14 PM UTC

porpoisely wrote: post #53

mlthoughts2018 wrote: post #12

At least the described severance benefit might be on the correct order of magnitude to be considered reasonable and not totally and odiously evil, “As part of the separation program, the employees will get a salary of up to 60 weeks, bonus and benefits, depending on the length of their service, Verizon said.” This is why I always advise people to negotiate significance severance benefits up front, on the order of 6 m…

I'm pretty sure verizon has a union and their severance is negotiated by the union. At least that's what happened in my first union job. Anyone working for verizon can correct me if I'm wrong. Also, which companies negotiate severance package before you are even hired? Especially as a new graduate? I've never heard of such thing as a software developer.

most (all? Idk) corporate office workers are not in the union. People who drive around putting boxes in peoples houses and climbing poles are in the union.

Re: Verizon says to shed 10,400 jobs by mid next year

#83

Post by [deleted] » Mon, Dec 10, 2018, 6:14 PM UTC

jayess wrote: post #77

padseeker wrote: post #30

I'm so glad we passed those corporate tax cuts that created all those jobs and helped provide for all those raises everyone got....

Full-time employment is up by 2.7 million since the tax cuts went into effect. Michigan's unemployment is the lowest it's been since records have been kept: https://www.michigancapitolconfidential.com/21325

[deleted]

Re: Verizon says to shed 10,400 jobs by mid next year

#84

Post by JustSomeNobody » Mon, Dec 10, 2018, 6:14 PM UTC

qaq wrote: post #54

JustSomeNobody wrote: post #40

Earlier quoted context omitted.

There should be a box on our tax forms for "Adopt a Shareholder" so at the very least we can name the person we want to get our money. Talk about entitlements. These companies seem to think they're entitled to our money.

Here you go those greedy shareholders: Vanguard Group, Inc. 7.26% Blackrock Inc. 6.54% State Street Corporation 3.83% Capital Research Global Investors 2.92% Wellington Management Company, LLP 2.80% oh wait thats actually your retirement money

Oh, so they're not greedy because they hold our retirement funds? I guess that makes it all OK then?

You keep voting for those corporate tax cuts. I won't.

Re: Verizon says to shed 10,400 jobs by mid next year

#85

Post by dfxm12 » Mon, Dec 10, 2018, 6:14 PM UTC

bogomipz wrote: post #78

So they're offsetting the Capex of their 5G rollout by eliminating employees that helped make Verizon 3G and 4G rollouts a success and the company a ton of cash? That seems like a pretty bad precedent if so. Also why would a brand new network deployment require any less head count? I assume they will just hire new workers when the uptake in 5G begins in earnest?

I assume they will just hire new workers when the uptake in 5G begins in earnest?

Probably at lower wages to boot.

Re: Verizon says to shed 10,400 jobs by mid next year

#86

Post by dd36 » Mon, Dec 10, 2018, 6:14 PM UTC

qaq wrote: post #54

JustSomeNobody wrote: post #40

Earlier quoted context omitted.

There should be a box on our tax forms for "Adopt a Shareholder" so at the very least we can name the person we want to get our money. Talk about entitlements. These companies seem to think they're entitled to our money.

Here you go those greedy shareholders: Vanguard Group, Inc. 7.26% Blackrock Inc. 6.54% State Street Corporation 3.83% Capital Research Global Investors 2.92% Wellington Management Company, LLP 2.80% oh wait thats actually your retirement money

That's a red herring. We could cut taxes to zero and your investments may go up a little temporarily but it would be catastrophic in medium-to-long term as the dollar collapses and Americans go through a depression and likely a war.

Re: Verizon says to shed 10,400 jobs by mid next year

#87

Post by TangoTrotFox » Mon, Dec 10, 2018, 6:14 PM UTC

padseeker wrote: post #30

I'm so glad we passed those corporate tax cuts that created all those jobs and helped provide for all those raises everyone got....

The article's headline and its content paint different pictures, with the title really just being clickbait. They're not laying off individuals but paying them to leave including upwards of a year of salary, a bonus, and maintaining benefits. And it was voluntary -- not 'pink slipping.'

I don't really think you can attribute this to the tax breaks, but if you can - then this would be an immense positive. Employee turnover is already very high pretty much everywhere now a days. Getting paid a year of salary, and more, to agree to leave? That's something I think the vast majority of workers would be absolutely thrilled to be offered. It's a potentially life changing offer giving somebody a chance to carry out any entrepreneurial fantasy they have, to get a fat head start on the joy of compound interest, or simply spending a year with bikinis, booze, and beaches if that's your thing.

Re: Verizon says to shed 10,400 jobs by mid next year

#88

Post by mlthoughts2018 » Mon, Dec 10, 2018, 6:15 PM UTC

scarface74 wrote: post #79

mlthoughts2018 wrote: post #29

Earlier quoted context omitted.

Yes, but many times companies will pull unmitigated dick moves and give you 2 weeks, no benefits. By comparison, even 1/3 the stated number of weeks is decent (especially for junior employees). Still, it’s a cautionary reninder to negotiate significant severance benefits.

How do you as a lowly employee "negotiate" severance benefits. You have no power. If they say "No" what are you going to do?

Just don’t accept that job if they say no. Look for a new job if your current one doesn’t offer this.

Re: Verizon says to shed 10,400 jobs by mid next year

#89

Post by mohaine » Mon, Dec 10, 2018, 6:15 PM UTC

cgriswald wrote: post #55

Spivak wrote: post #18

Earlier quoted context omitted.

I don't really think it's doublespeak. Laid off means an employer doesn't want/need your position anymore. Fired means an employer doesn't want you anymore.

I don't think it's quite so black-and-white. Often there are multiple such positions and they are being reduced. So your position still exists and they don't want you (or rather, they would prefer to have X number of your coworkers rather than you). I don't think it's synonymous with being fired, but you can smell it from there.

Every time I'm seen a layoff in tech it is always the lower performing employees first out the door. Round 1 is normally just letting people go who should have been fired years before.

Of course this is often when the good employees start doing interviews as well.

Re: Verizon says to shed 10,400 jobs by mid next year

#90

Post by briandear » Mon, Dec 10, 2018, 6:16 PM UTC

padseeker wrote: post #30

I'm so glad we passed those corporate tax cuts that created all those jobs and helped provide for all those raises everyone got....

How does lowering costs to businesses result in layoffs? The tax cut has nothing to do with these layoffs. Were there not layoffs during the Obama administration?

If a company just announced they are hiring a bunch of people, does the tax credit get credit for that? Currently, the US has very low unemployment. Also, in December 2017, wage growth was at 2.9%, while now it has increased to 3.7%. So almost a full percentage point in less than a year. Is that because of the tax cut? It would be very difficult to say for sure, but one thing is clear from the data, the tax cut didn’t reduce wage growth.