Call: 919.694.3298 (919.NWIDA.98) | Email:

National Wireless Independent Dealer Association

Verizon to cut 10,000+ jobs

According to an article in (link below), Verizon is killing off 10,400 jobs, as part as a “voluntary buyout.”

The employees are mainly U.S.-based and exclude Verizon’s Oath media business, but will include wireless. Those accepting the buyout will get up to 60 weeks of salary, bonus and benefits, depending on length of service. The goal is to put the billions of dollars it saves into supporting next-generation technology.

Image result for hans vestbergThis isn’t the first time Verizon has offered buyouts to employees as a means of cutting costs. Earlier this year, the company offered buyouts to 44,000 employees. At the time, chief executive Hans Vestberg (left) said the severance packages gave Verizon “an opportunity to find more efficiencies” in size and scope.

The initiative is meant to help Verizon save $10 billion over the course of four years, and it plans to invest those savings into 5G technology.

Verizon, however, is in the midst a major restructuring.

Vestberg confirmed recently that Verizon will be organized into three “customer-facing areas,” including consumer, business and Oath (Verizon Media Group).

Read the entire article here

NWIDA members, contact us today if you need our assistance and if you’re not yet a member, we invite you to join today.

Want news like this delivered to your inbox? Click HERE

Have any Question or Comment?

Leave a Reply

Your email address will not be published. Required fields are marked *

I accept that my given data and my IP address is sent to a server in the USA only for the purpose of spam prevention through the Akismet program.More information on Akismet and GDPR.

I’m Ready to join

Not Ready to Join?

Donate to NWIDA today!

Please send more information

Paid Ad: