Verizon Announces Major Layoffs Amid Operational Headwinds

27 days ago

Isabelle Lee

"Verizon tickers VZ shares are down by a ten of 1%. Again, it's a companywide layoff that they announced. This will shrink the company by as much as 20% of the nonUN workforce. So this is worth noting because Verizon is the largest US carrier in the US and they gave notice that they will begin cutting 13,000 employees and it extends to every level, business, retail workers, customer service representatives, and senior executives. So, this was announced by CEO Dan Schulman, who was lead independent director at Verizon, and he was named the top job last month after two conse consecutive quarters of subscriber losses and lackluster suck performance."

Verizon's announcement of cutting 13,000 jobs and reducing its workforce by up to 20% has raised concerns. This major layoff, coupled with recent subscriber losses, indicates operational challenges and could negatively impact investor sentiment despite efforts to streamline the business.

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