Robert Besser
30 May 2023, 02:36 GMT+10
NEW YORK CITY, New York: The Verge has reported that Verizon Communications met with more than 6,000 customer service employees to notify them of upcoming "restructuring" and "streamlining," which will result in significant firings.
The consolidation measures could end up impacting numbers far beyond the 6,000 present in the meeting, the report added, noting that more details will be shared by New York-based Verizon later in the month.
An economic downturn, continuing inflation and rising interest rates have forced several US companies, including Meta and Alphabet, to lay off thousands of workers.
Due to wireless subscriber losses caused by inflation, which forced Americans to delay device upgrades, as well as the end of post-COVID-19 pandemic growth, Verizon missed its first-quarter revenue and free cash flow targets.
Additionally, Verizon lost 127,000 net monthly bill-paying wireless phone subscribers in the quarter.
Get a daily dose of Arizona Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Arizona Herald.
More InformationSEATTLE, Washington: As part of Washington's efforts to stop Big Tech from monopolizing the most lucrative parts of the internet, ...
JEDDAH, Saudi Arabia: As part of Riyadh's efforts to further Saudi Arabia's electrification drive, electric vehicle (EV) maker Lucid announced ...
NEW YORK, New York - Stock prices were punctured Friday bringing to an end the 'flash in the pan' rally ...
WASHINGTON D.C. Due to internal brake fluid leaks that can cause an electrical short and could lead to engine fires, ...
WASHINGTON D.C. As part of its efforts to remove goods made by Uyghur forced labor from the U.S. supply chain, ...
LONDON, UK: In August, global production of primary aluminum hit an all-time high, with production running at an annualized rate ...
SACRAMENTO, California: Intending to raise some US$160 million per year to help prevent gun violence, California Governor Gavin Newsom signed ...
WASHINGTON D.C. Due to internal brake fluid leaks that can cause an electrical short and could lead to engine fires, ...
(Photo credit: Rick Scuteri-USA TODAY Sports) The Houston Astros are putting heat on the Texas Rangers with the regular season ...
(Photo credit: Brad Penner-USA TODAY Sports) Two heavy rain storms in the New York area will force the Mets to ...
(Photo credit: Charles LeClaire-USA TODAY Sports) Sleep? The Miami Marlins don't need no stinking sleep. They overcame nearly an all-nighter ...
(Photo credit: Steven Bisig-USA TODAY Sports) J.P. Crawford hit a grand slam and Ty France and Josh Rojas added solo ...