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Verizon Continues Layoffs – Over 16,000 employees to be cut in two years…
In: Breaking|broadbandreports.com|Cellphone|Communication|Finances|Site Feeds|Software
16 Oct 2009
Verizon has already cut 8,000 jobs in the last twelve months, and during the company’s second quarter earnings conference call announced they’d be laying off another 8,000 employees during the second half of this year. While some of the layoffs are because of the housing market and Verizon’s slowly dying residential phone business, the company is also making a very intentional move away from rural connectivity so they can focus on more immediately profitable urban and suburban FiOS and wireless delivery. Interestingly, the 200 employees laid off yesterday in Massachusetts and Rhode Island were mostly FiOS installers:
Eric Hetrick, business manager of IBEW Local 2322 in Middleborough, said the majority of the laid-off workers are technicians who carry out home installations of Verizon s FIOS network. Verizon is aggressively promoting FIOS, which delivers high-definition TV and high-speed Internet access as well as phone service. Hetrick said the FIOS technicians had plenty of work to do but were laid off because they had less seniority than other union members.
Verizon began this year with roughly 235,000 workers nationwide.
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3 Responses to Verizon Continues Layoffs – Over 16,000 employees to be cut in two years…
Polprav
October 22nd, 2009 at 7:24 pm
Hello from Russia!
Can I quote a post in your blog with the link to you?
irma deffit
November 4th, 2009 at 9:56 am
this does not turn me into a surprise, i saw it coming. same thing with CEO making millions while having employees as slaves making regular money for a way of treating employees a slaves. saw it coming to verizon as its happened to other companies etc. (well you saw it happened in the news). not to count the department sent overseas. well, this is my comment. idp
tip-ring
January 11th, 2010 at 8:26 pm
The real question that comes to mind is where FiOS and wireline services stake in the focus of Verizon Communications. Urban and Suburban services bring an enormous amount of revenue into the company, but is the overhead too much for the shareholders to view these segments as profitable. Will Verizon follow the GE mantra (if you can’t be number 1 then get out) ? If Verizon sells it all, how will the Government feel about having their circuits managed by a mom and pop shop?