Verizon severance deal spans quarter of workforce - Mobile World Live

Verizon severance deal spans quarter of workforce

05 OCT 2018

A voluntary buyout offer for employees launched by Verizon last month in a bid to trim its workforce and cut costs was sent to around 44,000 staff, The Wall Street Journal (WSJ) reported.

The figure represents approximately 28 per cent of the 153,100 employees Verizon had on its payroll as of end-June.

WSJ previously noted the severance package was offered to management and excluded sales staff.

Separately, Verizon informed nearly 2,500 employees they were being transferred to Infosys after the operator struck a $700 billion deal with the Indian IT outsourcing company. Employees being moved won’t receive a severance package from Verizon if they refuse a job offer from Infosys, WSJ reported.

The moves come as Verizon looks to cut $10 billion in costs. In November 2017, Verizon EVP and president of Global Operations John Stratton flagged customer service, distribution and virtualisation as areas where the operator was hoping to gain additional efficiencies.

Back

Author

Diana Goovaerts

Diana joins Mobile World Live as its new US Editor, reporting on infrastructure and spectrum rollouts, regulatory issues, and other carrier news from the US market. Diana comes to GSMA from her former role as Editor of Wireless Week and...

Read more

Related

Tags