Verizon Is Letting 4,800 Employees Go

Another mass layoff

Verizon puts price tag on buyouts and 4,800 employees are leaving

Communications giant also calls for other charges related to real estate

By

Claudia Assis

Published: Sept. 12, 2024 at 11:23 a.m. ET

Verizon said that about half of employees taking the buyout are leaving in September.

PHOTO: GABRIEL BOUYS/AGENCE FRANCE-PRESSE/GETTY IMAGES

Verizon Communications Inc. said Thursday it expects charges of up to $1.9 billion in its third quarter in connection with employee buyouts.

About 4,800 employees will leave the telecommunications giant by March under the voluntary separation program that Verizon announced in June. Half of those employees are leaving in September, the company said.

read more at

https://www.marketwatch.com/story/verizon-puts-price-tag-on-buyouts-and-says-nearly-5-000-employees-are-leaving-d29f4c15?mod=home-page