Verizon Planning Reorganization, Job Cuts in Wireless Segment
Verizon Communications is planning to reorganize its wireless operations and make an unspecified number of job cuts.
The company will reduce to six from 20 its number of regional offices, Verizon spokesman Jim Gerace told Bloomberg, adding that sales and store employees will not be impacted.
As of Sept. 30, the company had a workforce of approximately 177,900 employees.
New York-based Verizon, whose wireless operations served nearly 111 million retail connections at the end of the third quarter, did not specify the precise timing of the job cuts.
“We are constantly working to evolve our operations to best support our customers’ changing needs,” Verizon spokesman Jeffrey Nelson said in an email to Channel Partners, when asked about the reason for the cuts.
Through the first nine months of the year, Verizon reported consolidated revenues of $97.4 billion, with the lion’s share ($67.9 billion) coming from its wireless segment.
