Read the memo Verizon sent to the 13,000 employees it just fired
NegativeFinancial Markets

- Verizon has announced the layoff of over 13,000 employees, marking its largest workforce reduction to date. This decision follows a significant loss of customers, prompting the company to reassess its operational strategy and make drastic changes to its workforce.
- The layoffs are part of a broader restructuring effort aimed at addressing ongoing challenges in the telecommunications market. This move is expected to incur up to $1.8 billion in severance charges, highlighting the financial implications of the company's shift in strategy.
- The telecommunications sector is currently experiencing heightened competition, with rivals like T-Mobile actively seeking to attract customers from Verizon and AT&T. This trend of customer migration underscores the challenges faced by major providers, as they navigate a rapidly evolving market landscape.
— via World Pulse Now AI Editorial System







