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Verizon Plans 8,000 Job Cuts to Fight Costs

Jul 27, 2009, 9:34 AM by Eric M. Zeman
updated Jul 27, 2009, 10:29 AM

Verizon Communications reported its quarterly earnings today. Though the company's wireless division netted 1.1 million new subscribers (bringing the total to 87.7 million) and total revenue jumped 11% to $26.86 billion, Verizon saw a large 21% drop in profits. The company has also been hit with surging pension costs and weakening demand for some of its wireless services. In response, the company plans to reduce its contractor and employee workforce by 8,000 during the second half of 2009. Verizon indicated that the staff reductions would focus on its wireline and not its wireless business.

more info at Wall Street Journal »

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Subject	Author	Date
All Alone?	Big Poppa	Jul 28, 2009, 2:23 PM
Union effort	stevelvl	Jul 27, 2009, 10:10 AM
Re: Union effort by FknTwizted Jul 27, 2009, 11:12 AM Re: Union effort by stevelvl Jul 27, 2009, 1:20 PM Re: Union effort by FknTwizted Jul 27, 2009, 4:27 PM Re: Union effort by Veritas117 Jul 28, 2009, 10:17 AM Re: Union effort by murmermer Jul 27, 2009, 8:22 PM
Attn Rich Brome: Just the facts, ma'am?	CellStudent	Jul 27, 2009, 10:15 AM
Re: Sorry Rich! Attn: Eric Zeman by CellStudent Jul 27, 2009, 10:21 AM Re: Attn Rich Brome: Just the facts, ma'am? by Eric M. Zeman Jul 27, 2009, 10:42 AM Re: Attn Rich Brome: Just the facts, ma'am? by Jayshmay Jul 27, 2009, 12:38 PM Re: Attn Rich Brome: Just the facts, ma'am? by sswarowsky Jul 27, 2009, 1:34 PM Re: Attn Rich Brome: Just the facts, ma'am? by ForesterGump Jul 27, 2009, 5:12 PM
Drop the prices...	flip mode	Jul 27, 2009, 2:06 PM
Re: Drop the prices... by stevelvl Jul 27, 2009, 2:13 PM Re: Drop the prices... by Menno Jul 27, 2009, 4:08 PM
This is proof that the wireline markets are shrinking.	ATnT Nokia	Jul 27, 2009, 2:05 PM
LOL Rich you just gave all of VZW the scare of there life!	stevelvl	Jul 27, 2009, 1:47 PM
Something just doesn't seem right here. . .	Jayshmay	Jul 27, 2009, 9:48 AM
Re: Something just doesn't seem right here. . . by VZW611LA Jul 27, 2009, 9:59 AM Re: Something just doesn't seem right here. . . by Jayshmay Jul 27, 2009, 10:03 AM Re: Something just doesn't seem right here. . . by membari Jul 27, 2009, 10:05 AM Re: Something just doesn't seem right here. . . by GTAexpert Jul 27, 2009, 10:10 AM Re: Something just doesn't seem right here. . . by stevelvl Jul 27, 2009, 1:26 PM Just to update the facts on the former Alltel employees. by Gadget Junky Jul 27, 2009, 11:57 AM Re: Something just doesn't seem right here. . . by ccareatatt Jul 27, 2009, 10:53 AM
Please correct your Twitter announcement and this article!	sswarowsky	Jul 27, 2009, 10:31 AM
Re: Please correct your Twitter announcement and this article! by evrodude Jul 27, 2009, 11:32 AM Re: Please correct your Twitter announcement and this article! by sswarowsky Jul 27, 2009, 11:56 AM Re: Please correct your Twitter announcement and this article! by sswarowsky Jul 27, 2009, 12:21 PM
Read the actual article before you post!	underoath427	Jul 27, 2009, 10:15 AM
Re: Read the actual article before you post! by evrodude Jul 27, 2009, 11:32 AM Re: Read the actual article before you post! by sswarowsky Jul 27, 2009, 11:57 AM Re: Read the actual article before you post! by JeffdaBeat Jul 27, 2009, 12:14 PM Re: Read the actual article before you post! by sswarowsky Jul 27, 2009, 12:19 PM

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