Thread regarding Verizon Communications Inc. layoffs

Verizon got booted off the dow because it was one of only 4 companies left on the dow, with a 2 digit share price... and one of only 2 under $50... Nike being the other. The only reason Nike stays on is because it's the only "apparel" company on the Dow... VZ is lumped in with tech now, as opposed to telcom. Once they dumped at&t the writing was on the wall for VZ... surprised it took as long as it did. It doesn't really matter long term. It will just take a few weeks until all the DOW index following funds are done selling it.

@cj Thank you. This is the answer. There are two meetings and it is the morning one that mentioned Wall Street. I've never noticed over the years because I am usually knee deep in work and don't have time for pep rallies.

@OP probably just the 8:30 call with the street on Friday. Same way it's been for decades.

Verizon is increasing revenue by selling Verizon real estate and scraping metal (and bragging about it). Verizon has halted sponsorship spending (for things like NASCAR direct car sponsorships), corporate giving programs, scaling back in donation areas and completely eliminating Diversity, Equity, and Inclusion (DEI) programs. Welcome to the new Verizon, a stingy, scrappy company.

@ac I appreciate the honest feedback and insight. I guess I am just missing the connection between Wall Street and 2Q. One doesn't seem to have anything to do with the other. If the business was profitable it was a good 2Q. Wall Street may or may not care. Laying off workers and selling everything that isn't nailed down may have a short term affect on Wall Street and make the board happy for a minute but no one will get their jobs back and it doesn't mean there are more customers or new money coming in.

Maybe they want to have people that sound official to put spin on the narrative that will convince people they really care about the workers.

It's a lot and I want to understand as much as possible so I don't get conned into believing a lie. Otherwise, why have any of the all hands calls if they are only there to make them feel important and do nothing for us.

@OP it really doesn’t factually mean anything that Vz was removed from the Dow and replaced with alphabet. We were last of the big communication companies on there and honestly we should have been removed a while ago to be fair. The recent stock price drop had nothing to do with as we were just above $30 in 2023