Verizon lets go of 10,400 employees under voluntary programme

Nieuws Algemeen Verenigde Staten 11 DEC 2018 Updated: 11 DEC 2018
Verizon lets go of 10,400 employees under voluntary programme

Verizon Communications announced that about 10,400 employees have accepted to leave the company, under its voluntary redundancy and retirement offer. The company had 152,300 employees at the end of the third quarter. 

Around half the employees will leave already in December. The voluntary departures and other headcount reduction initiatives will lead to pretax severance charges of USD 1.8-2.1 billion in the fourth quarter of 2018, the US operator announced in a SEC filing. 

The planned layoffs come as part of Verizon’s reorganisation, announced last month, into three customer-facing businesses: Consumer, Business, and Verizon Media Group/Oath. CEO Hans Vestberg said the aim is to serve customers with more agility, speed and flexibility.

Updates
11 DEC 2018 - Updates with details from SEC filing on financial impact.

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Algemeen

Companies:

Verizon,  Verizon Communications,  Oath

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Verenigde Staten

Tags:

Staff, Corporate strategy, Officers & directors

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