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Verizon Communications is a Telco that is a solid company with a healthy balance sheet but a shaky future

Director Technology
Current Employee
Has worked at Verizon for less than 1 year
July 16, 2010
Rome, New York
3.0
Pros

Verizon Communications is a telco that is a solid company with a healthy balance sheet and a great product in FiOS TV. They have excellent salary and bonus plans, decent benefits, and people generally work hard. Ivan Seidenberg is an excellent, visionary leader as CEO.

Cons

Despite a long history of excellent performance, the recent trend for Verizon is one of desperation. Margins are shrinking more than anyone would like. Ivan Seidenberg looks to be retiring in 2 years or less.

The middle executives are terrible at communicating, believing in their people, and all are in the mode of "protect your own and help this thing last a couple more years so I can retire." They haven't hired new management employees in too many years, so the workforce is too old and afraid of risk. It's a bad trend for the mid-term future.

Advice to Management

You need to hire new people into the corporation and encourage upward movement, even at the cost of some good people that are already there.

The age and safety play of your decision-makers is going to be your downfall.

You need new life, energy, ideas, and risks.

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