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CenturyLink started the new year by Laying off hundreds of employees nation wide. Employees were given no notice and escorted out of the door on Friday Jan 12, 2018 . The heartless company will continue to Layoff all year in an effort to boost the stock price. They have promised wall street hundreds of millions in Synergies sine they announced their merger with Level 3. The Level 3 upper management has taken over and the CEO Glen Post has one foot in and one foot towards his golden parachute retirement. The old " unifying principles " by which Centurylink operated have been put in the trash . One being " Faith and perseverance " . Tell that to the people hoping to not to be homeless as their severance runs out.
Last edited by wilberry; 01-15-2018 at 06:30 AM..
Reason: spelling
Since this is a business forum, laying off at the start of the year could have a positive outcome. Odds are they budgeted those positions for the year. By dumping the employees at years start, the budgeted money wont be spent be spent which will show a major profit. I only see some nice executive bonuses down the road.
Fact is CenturyLink has been downsizing for years. They have effectively busted the unions through employee attrition often with the blessing of those employees who were leaving. With the exception of the staff needed to operate systems, most of the staff could easily be outsourced to contractors or off shored to other countries.
In the end, how a business is viewed by their employees seldom is a concern to those holding its stock.
very nice bonuses for the top officers , its the american dream. While AT&T and Comcast announce $ 1000 bonus for every employee due to the Corporate tax cut being lowered form 35 % to 21 % CenturyLink Level3 will trim and trim to please the investors and to pay for the merger which cost 34 Billion .
Whenever talk of tax cuts for businesses surfaces, companies are known to hold back bonuses and raises. This way if the tax cut comes (as we see now) they suddenly announce bonuses and rate hikes as if it was based on that tax cut. Since the passing of the tax cut and announcements of bonuses and raises, do we really think these companies had enough time to do detailed business financial calculations pertaining to future tax cuts and calculate bonus and compensation increases in that short period of time? Nope, most of these were regular or held back planned bonuses and/or raises that were just placed on hold to be announced if the tax cut happens. Why, so we can get even more tax cuts.
There's the problem and you all fell for it. Big corporations want to bust up the unions so they have no accountability to their working force and they can do what they want. Unions were responsible for the 5 day/40 hour a week work week, paid overtime, time and a half holiday pay, heath insurance, pensions, and the list goes on. The union is a check and balance for both worker and corporate. Without it, workers are taken advantage, talked into over working and not get paid... hence salary paid positions that will take you over 40 hours a week. This is how these companies get all the help in the work and they need by taking advantage and getting their agenda through. The union is put in place to have representatives represent the working force and be able to negotiate good pay and benefits that are fair and with the growing cost of living. Without it, companies will take advantage. You will start getting Less benefits if any any, work over 40 workout pay, required a holiday or two etc. Now more than ever we need to get the Union's back! If you are involved with a bad Union that is your own fault because it is the worker who has all the say in what goes on with the Union Representatives.
Whenever talk of tax cuts for businesses surfaces, companies are known to hold back bonuses and raises. This way if the tax cut comes (as we see now) they suddenly announce bonuses and rate hikes as if it was based on that tax cut. Since the passing of the tax cut and announcements of bonuses and raises, do we really think these companies had enough time to do detailed business financial calculations pertaining to future tax cuts and calculate bonus and compensation increases in that short period of time? Nope, most of these were regular or held back planned bonuses and/or raises that were just placed on hold to be announced if the tax cut happens. Why, so we can get even more tax cuts.
That is so not true. Companies, BEFORE given the tax cuts had plenty of money for raises and bonuses and haven't. Companies will take care of share holders, CEO'S and executives first above and beyond where the common worker is LAST to get anything. You should just be happy to have a job they look at you like..... That's reality folks. Employees are a liability to a company, not an asset.
An Entire engineering department in the Orlando area were told they have 4 weeks to find other jobs. These are people who have worked for 25 or more years working hard to keep the Company running smoothly dispite constant changing management and dysfunctional Corporate structure. Now they are kicked to the curb by an ungrateful greedy Corporation.
An Entire engineering department in the Orlando area were told they have 4 weeks to find other jobs. These are people who have worked for 25 or more years working hard to keep the Company running smoothly dispite constant changing management and dysfunctional Corporate structure. Now they are kicked to the curb by an ungrateful greedy Corporation.
Hopefully the stock price rises as a result. Remember, when people are cheering the rise in stock prices or increases in their 401K or pensions, it may have been the result of some employees in those companies getting the ax.
Heartless??
It's a business.
Are you 'heartless' when you abandon the grocery store you've been going to when you find another one that has lower prices and leaves more money in your pocket?
Do you and your friends stay with the old one in case loss of profit means some cashiers might get laid off?
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