AUGUST 26, 2023 — HQ RELOCATION
Frontier Communications has announced that it will relocate its corporate headquarters and hundreds of jobs from Norwalk, Connecticut.
It is believed that the company will relocate to Dallas, Texas, where Frontier CEO and other key executives live and work, and where the company has its most important operations with hundreds of employees.
Frontier has asked for an "enterprise zone" designation for its new corporate office there — with Tampa, Florida as an alternative location. Negotiations are ongoing.
Among other bennies, the "enterprise zone" designation will allow Frontier to apply for a rebate of state sales and use tax refunds on qualified expenditures of up to $2,500 per job created or retained.
APRIL 16, 2022 — 79 LAYOFFS/BUY-OUTS IN CONNECTICUT
Frontier Communications announced that they were seeking to eliminate 79 positions, including installation and repair specialists, facility assigners, and service representatives, using buyout packages, with the terms of the severance deals varying based on seniority.
JUNE 27, 2021 — 107 LAYOFFS IN CENTRAL. FLORIDA. DANGER AHEAD AFTER BANKRUPTCY EXIT
The company has announced that due to “changing business needs, they will be closing the DeLand office and laying off 107 sales and service employees between August 17, 2021, and August 31, 2021.
Frontier exited Chapter 11 bankruptcy and is completing an operational review that will likely involve a significant reduction in force as the company transitions to a larger fiber-optic network.
APRIL 28, 2020 — Original post
Norwalk, Connecticut-based Frontier Communications, the telecommunications, and internet service provider, has filed for voluntary Chapter 11bankruptcy to seek relief from crushing debt.
As the night follows the day, look for corporate restructuring and cost reduction which will lead to asset divestitures and a further reduction in force.
In a statement announcing the filing, the company noted…
“We are undertaking a proactive and strategic process with the support of our Bondholders to reduce our debt by over $10 billion on an expedited basis. We are pleased that constructive engagement with our Bondholders over many months has resulted in a comprehensive recapitalization and restructuring. We do not expect to experience any interruption in providing services to our customers,” said Robert Schriesheim, Chairman of the Finance Committee of the Board of Directors. “With a recapitalized balance sheet, we will have the financial flexibility to reposition the Company and accelerate its transformation by allocating capital resources and adding talent to enhance our service offerings to our customers while optimizing value for our stakeholders. Under the RSA, our trade vendors will be paid for goods and services provided both before and after the filing date.”
"In addition, the Company intends to proceed with the sale of its Washington, Oregon, Idaho, and Montana operations and assets to Northwest Fiber for $1.352 billion in cash, subject to certain closing adjustments, on or around April 30, 2020, and will seek Court approval to complete the transaction on an expedited basis."
It remains to see the company's response to its union, the Communication Workers of America who was denied access to the bankruptcy proceedings with their bondholders.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?