Verizon swings axe at another 13,000 jobs
Verizon swings axe at another 13,000 jobs
Dylan Bushell-Embling |
January 28, 2010
telecomseurope.net
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US operator Verizon has announced it will cut another 13,000 jobs, as the beleaguered company announced a fourth-quarter loss.
The latest round of cuts represent around 5% of Verizon's total workforce, the WSJ said. Verizon has cut around 13,000 jobs each year since 2008.
The company swung to a $653 million (€465.8 million) loss during the quarter, even as operating revenue grew 9.9% to $27.1 billion.
Mobile unit Verizon Wireless, once again performed strongly, lifting its revenue 23% to $15.73 billion.
The unit added 2.2 million subscribers during the quarter, bringing its total to 91.2 million.
But fixed line revenue continued to slump, falling 3.9% to $11.5 billion. This, coupled with a $3 billion charge related to previous job cuts, forced the group into the red.
The division did add 153,000 subscribers to its lucrative FiOS fiber broadband service, which now has 3.4 million customers.
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