WEBVTT 1 00:00:10.780 --> 00:00:11.890 line:15% Tami, welcome, 2 00:00:11.890 --> 00:00:14.330 line:15% and thank you for agreeing to talk with us today 3 00:00:14.330 --> 00:00:17.540 line:15% about your experiences with COVID at Verizon. 4 00:00:17.540 --> 00:00:18.373 line:15% Of course. 5 00:00:18.373 --> 00:00:20.000 line:15% Thank you so much for the opportunity. 6 00:00:20.000 --> 00:00:22.470 line:15% I just want to get started and talk a little bit about 7 00:00:22.470 --> 00:00:24.640 line:15% how Verizon has managed 8 00:00:24.640 --> 00:00:26.910 through this crisis overall 9 00:00:26.910 --> 00:00:28.630 and how it's gone for you from 10 00:00:28.630 --> 00:00:30.210 an overall business perspective. 11 00:00:30.210 --> 00:00:32.750 What are the highlights that you'd point out? 12 00:00:32.750 --> 00:00:37.200 We start first with, how do we protect the 135,000 13 00:00:37.200 --> 00:00:40.010 of Verizon employees that are represented around the world? 14 00:00:40.010 --> 00:00:43.220 And that was the common framing and infrastructure 15 00:00:43.220 --> 00:00:44.930 that we had at Verizon was to say, 16 00:00:44.930 --> 00:00:48.010 "Our employees' safety has to be first and foremost." 17 00:00:48.010 --> 00:00:49.940 But it was followed very quickly thereafter 18 00:00:49.940 --> 00:00:52.450 by the responsibility, the acknowledgement 19 00:00:52.450 --> 00:00:55.850 that our core connectivity, and so many of the other 20 00:00:55.850 --> 00:00:59.310 services that we provide, are essential to our customers 21 00:00:59.310 --> 00:01:02.350 and that as we thought about how we manage this crisis, 22 00:01:02.350 --> 00:01:05.370 recognizing the responsibility to shareholders. 23 00:01:05.370 --> 00:01:07.410 But also to a fourth stakeholder 24 00:01:07.410 --> 00:01:09.070 we've spent a lot of time at Verizon 25 00:01:09.070 --> 00:01:10.890 talking about over the last year, 26 00:01:10.890 --> 00:01:13.404 and that is society at large. 27 00:01:13.404 --> 00:01:15.530 How was it that you were able to move so quickly 28 00:01:15.530 --> 00:01:17.760 on so many different fronts during the crisis? 29 00:01:17.760 --> 00:01:20.070 There's a line in our credo that says we run to a crisis, 30 00:01:20.070 --> 00:01:23.000 and we have practiced that year, after year, after year, 31 00:01:23.000 --> 00:01:26.030 whether it's hurricanes or wildfires. 32 00:01:26.030 --> 00:01:27.490 This was a different crisis. 33 00:01:27.490 --> 00:01:29.910 This was a health crisis, 34 00:01:29.910 --> 00:01:33.520 and the way that the entire organization rallied to say, 35 00:01:33.520 --> 00:01:35.240 "We have a single priority, 36 00:01:35.240 --> 00:01:37.830 which is employee safety above all else." 37 00:01:37.830 --> 00:01:39.970 We knew that we had that responsibility, 38 00:01:39.970 --> 00:01:42.070 and I think our ability to galvanize and say, 39 00:01:42.070 --> 00:01:45.410 "It's all hands on deck around protecting the health 40 00:01:45.410 --> 00:01:47.270 and well-being of our employees" 41 00:01:47.270 --> 00:01:48.293 gave us the ability to say, 42 00:01:48.293 --> 00:01:52.330 "Do whatever is required to make sure that we deliver on 43 00:01:52.330 --> 00:01:53.650 that as the first priority," 44 00:01:53.650 --> 00:01:55.360 because we knew that if we could do that, 45 00:01:55.360 --> 00:01:57.060 we then would have the assets with which 46 00:01:57.060 --> 00:01:58.900 to serve our customers. 47 00:01:58.900 --> 00:02:00.650 We, as the senior leadership team, 48 00:02:00.650 --> 00:02:03.210 had daily briefings where we were all plugged in 49 00:02:03.210 --> 00:02:04.950 and engaged in a way that said, 50 00:02:04.950 --> 00:02:06.960 "How do we have a common framework, 51 00:02:06.960 --> 00:02:09.690 and then how do we have really good communication?" 52 00:02:09.690 --> 00:02:12.500 We had a noon broadcast, five days a week, 53 00:02:12.500 --> 00:02:14.440 that went out to the world 54 00:02:14.440 --> 00:02:16.260 that talked about what we were doing 55 00:02:16.260 --> 00:02:18.140 and what actions we were taking, 56 00:02:18.140 --> 00:02:20.550 and I think that was super important as well. 57 00:02:20.550 --> 00:02:22.880 So everybody had the same information, 58 00:02:22.880 --> 00:02:25.260 everybody had the same objective and goal, 59 00:02:25.260 --> 00:02:26.820 and speed was essential. 60 00:02:26.820 --> 00:02:28.430 What about your customers? 61 00:02:28.430 --> 00:02:30.339 What were some of the challenges you faced 62 00:02:30.339 --> 00:02:32.990 in supporting and serving your customers 63 00:02:32.990 --> 00:02:34.420 as the crisis unfolded? 64 00:02:34.420 --> 00:02:36.710 How could we be the partner of choice 65 00:02:36.710 --> 00:02:38.970 to make sure they had the bandwidth capability, 66 00:02:38.970 --> 00:02:41.310 they had VPN capability, 67 00:02:41.310 --> 00:02:43.080 they had call center capability? 68 00:02:43.080 --> 00:02:45.400 Because so many businesses went from 69 00:02:45.400 --> 00:02:48.000 a retail front-door presence, to having 70 00:02:48.000 --> 00:02:49.840 to have a call center functionality 71 00:02:49.840 --> 00:02:51.450 and expanded capability, 72 00:02:51.450 --> 00:02:53.549 line:15% and so really being there to help provide 73 00:02:53.549 --> 00:02:57.420 line:15% their business continuity, disaster recovery acceleration. 74 00:02:57.420 --> 00:02:58.590 line:15% You know, it's interesting in small 75 00:02:58.590 --> 00:02:59.610 line:15% and medium businesses, are 76 00:02:59.610 --> 00:03:02.480 line:15% small and medium businesses greater than 50% 77 00:03:02.480 --> 00:03:04.453 line:15% when they closed that front door, 78 00:03:04.453 --> 00:03:07.010 they did not have a digital front door. 79 00:03:07.010 --> 00:03:10.250 So their business was essentially completely shut, 80 00:03:10.250 --> 00:03:12.370 and we've done a lot of work for small businesses. 81 00:03:12.370 --> 00:03:14.590 I'm really proud of the work that we've done here to say, 82 00:03:14.590 --> 00:03:17.160 "How do we show up on behalf of giving them 83 00:03:17.160 --> 00:03:19.360 the tools that are required to be successful?" 84 00:03:19.360 --> 00:03:21.150 Are there any other things you want to highlight 85 00:03:21.150 --> 00:03:23.530 in terms of how you've engaged either with the public 86 00:03:23.530 --> 00:03:26.090 or the social sector, in terms of the impact you're having 87 00:03:26.090 --> 00:03:29.160 in communities or society as a whole? 88 00:03:29.160 --> 00:03:31.580 We go into schools; we go into communities; 89 00:03:31.580 --> 00:03:35.780 we provide teachers and students with technology 90 00:03:35.780 --> 00:03:38.180 to be able to learn electronically; 91 00:03:38.180 --> 00:03:40.442 we teach teachers how to use curriculum 92 00:03:40.442 --> 00:03:44.550 that is delivered via video and platforming capability; 93 00:03:44.550 --> 00:03:46.420 and it's a game-changer. 94 00:03:46.420 --> 00:03:49.980 And part of doing that is, we're delivering it now on 5G 95 00:03:49.980 --> 00:03:52.520 and with the BlueJeans platforming capabilities. 96 00:03:52.520 --> 00:03:57.140 As you reflect back on the successes that you've had, 97 00:03:57.140 --> 00:03:59.200 which are the lessons that you've learned 98 00:03:59.200 --> 00:04:01.210 through this crisis and some of the successes 99 00:04:01.210 --> 00:04:03.017 that you will want to take forward as part 100 00:04:03.017 --> 00:04:05.757 of your overall strategy or how you operate? 101 00:04:05.757 --> 00:04:10.150 What I think we will carry into a post-COVID environment, 102 00:04:10.150 --> 00:04:12.270 is the expectation that we can do things 103 00:04:12.270 --> 00:04:14.190 faster than we could have ever imagined. 104 00:04:14.190 --> 00:04:16.530 We proved that anything was possible 105 00:04:16.530 --> 00:04:19.280 and that everything we do needs to be balanced 106 00:04:19.280 --> 00:04:22.902 on who we're serving across all four of our stakeholders. 107 00:04:22.902 --> 00:04:25.190 line:15% Customers have always been important; 108 00:04:25.190 --> 00:04:27.090 line:15% employees are core to everything we do; 109 00:04:27.090 --> 00:04:29.700 line:15% shareholders are why we do what we do; 110 00:04:29.700 --> 00:04:32.040 line:15% but at the end of the day, bringing society in 111 00:04:32.040 --> 00:04:33.651 line:15% and making sure that as a corporation, 112 00:04:33.651 --> 00:04:36.660 line:15% we have accountability for doing what's right 113 00:04:36.660 --> 00:04:37.550 for our business, 114 00:04:37.550 --> 00:04:39.440 doing what's right for our employees, 115 00:04:39.440 --> 00:04:42.560 and doing what's right on behalf of society is so important. 116 00:04:42.560 --> 00:04:44.801 What are the key questions that you and the team 117 00:04:44.801 --> 00:04:45.782 are trying to answer 118 00:04:45.782 --> 00:04:48.060 in terms of the path forward for Verizon? 119 00:04:48.060 --> 00:04:51.440 There's a couple that, for me, really stand out. 120 00:04:51.440 --> 00:04:52.550 One is healthcare. 121 00:04:52.550 --> 00:04:55.270 I will never sit in a doctor's office sick again, 122 00:04:55.270 --> 00:04:56.119 nor will you, 123 00:04:56.119 --> 00:04:59.980 because 70%, 80% of visits are now being done 124 00:04:59.980 --> 00:05:01.451 via video platforms. 125 00:05:01.451 --> 00:05:03.828 Think about building the capability that's in, 126 00:05:03.828 --> 00:05:06.150 that biometrics that you can easily use, 127 00:05:06.150 --> 00:05:10.180 and it changes the availability of healthcare for everyone, 128 00:05:10.180 --> 00:05:11.810 and I think that is a game-changer. 129 00:05:11.810 --> 00:05:12.643 Tami, 130 00:05:12.643 --> 00:05:14.149 thanks again for speaking with us today, 131 00:05:14.149 --> 00:05:15.460 we really appreciate it. 132 00:05:15.460 --> 00:05:16.440 Of course. 133 00:05:16.440 --> 00:05:19.090 Thanks so much for the opportunity to tell our story.