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Old 01-26-2010, 09:29 AM  
petegz28 petegz28 is offline
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Verizon to cut 13,000 jobs!

For those who care, Verizon will be adding 13,000 people to the unemployment numbers.
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Old 01-26-2010, 09:32 AM   #2
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About 2500 packing house workers in eastern Iowa were notified their plants were closing last week.
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Old 01-26-2010, 09:35 AM   #3
dirk digler dirk digler is offline
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From reading on this they cut 13,000 jobs last year too. But they had an increase in sales by almost 10%.
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Old 01-26-2010, 09:36 AM   #4
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Smurfit-Stone forced to close its' doors in Western MT. 463 workers lose their jobs.

More HOPE and CHANGE.
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Old 01-26-2010, 09:40 AM   #5
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Smurfit-Stone forced to close its' doors in Western MT. 463 workers lose their jobs.

More HOPE and CHANGE.
OUCH!

My Dad was the Plant GM for them at their Dallas Plant and then here in the Louisville Plant...
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Old 01-26-2010, 09:42 AM   #6
KC native KC native is offline
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From reading on this they cut 13,000 jobs last year too. But they had an increase in sales by almost 10%.
This is one of the reasons that I think we are headed for a double dip. Companies aren't going to be able to cut much more and still run their business. Right now we're seeing quite a few disappointments on revenue growth but companies are still hitting analyst estimates due to cost cutting.
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Old 01-26-2010, 09:43 AM   #7
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Verizon has enough ****ing commercials, that sucks for their workers
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Old 01-26-2010, 09:43 AM   #8
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Smurfit-Stone forced to close its' doors in Western MT. 463 workers lose their jobs.

More HOPE and CHANGE.
Just how were they "forced" to close their doors?
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Old 01-26-2010, 09:45 AM   #9
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This is one of the reasons that I think we are headed for a double dip. Companies aren't going to be able to cut much more and still run their business. Right now we're seeing quite a few disappointments on revenue growth but companies are still hitting analyst estimates due to cost cutting.
Verizon didn't hit their estimates. It was projected they would make $27.3 billion they made $27.1 billion.
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Old 01-26-2010, 09:50 AM   #10
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That sucks. They should have fired whoever keeps running those stupid map commercials.
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Old 01-26-2010, 09:52 AM   #11
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Verizon didn't hit their estimates. It was projected they would make $27.3 billion they made $27.1 billion.
That's close enough. A $200 million dollar miss on $27 Billion in revenue isn't much of a miss.
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Old 01-26-2010, 10:02 AM   #12
petegz28 petegz28 is offline
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That's close enough. A $200 million dollar miss on $27 Billion in revenue isn't much of a miss.
Not enough to justify laying off 13,000 more people. The greed on "The Street" is killing this economy.
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Old 01-26-2010, 10:04 AM   #13
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Not enough to justify laying off 13,000 more people. The greed on "The Street" is killing this economy.
I agree. Again, we're back to modern CEO's focus on the next quarter so they can get their bonuses. Yet another glaring example of why CEO compensation needs to be drastically altered. I have no problem with the level of their compensation but I have huge problems with the structure of it.
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Old 01-26-2010, 10:04 AM   #14
petegz28 petegz28 is offline
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That's close enough. A $200 million dollar miss on $27 Billion in revenue isn't much of a miss.
Moreso, who had the miss? The company or the Wall St. analyst? I am sure there is a combo of both but my guess is the guy outside the company was the one more in the wrong.
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Old 01-26-2010, 10:13 AM   #15
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Moreso, who had the miss? The company or the Wall St. analyst? I am sure there is a combo of both but my guess is the guy outside the company was the one more in the wrong.
The thing is with estimates and the way they are reported is that they are averaged and always include even the poor ones. I bet if they threw out the crappier analyst estimates then this revenue was probably closer than meets the eyes.

Beyond that, most analyst estimates are in a fairly tight range because they use the same models to predict revenues, costs, earnings, etc.
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