Thread: Verizon to cut 8000 jobs

Verizon to cut 8000 jobs

Verizon to cut 8,000 jobs
(AP) – 3 hours ago

NEW YORK — Phone company Verizon says it will cut 8,000 jobs from among employees and contractors before the end of the year to keep costs in line as the recession saps demand from businesses for telecommunications services.

Executives said the cuts will come from the wireline side of the business.

In recent years, New York-based Verizon Communications Inc. has balanced layoffs in its wireline business with hiring in wireless, making for a net increase.

But Chief Operating Officer Denny Strigl says that will not be the case this time. He says there will be no large-scale hiring in wireless until the recession is over.

Verizon ended June with 235,000 employees. That doesn't include contractors.

Verizon shares fell 95 cents, or 3 percent, to $30.55 in morning trading.
http://www.google.com/hostednews/ap/art ... QD99MSAT82

Originally Posted by cjbl2929

Verizon to cut 8000 jobs

Verizon to cut 8,000 jobs
(AP) – 3 hours ago

NEW YORK — Phone company Verizon says it will cut 8,000 jobs from among employees and contractors before the end of the year to keep costs in line as the recession saps demand from businesses for telecommunications services.

Executives said the cuts will come from the wireline side of the business.

In recent years, New York-based Verizon Communications Inc. has balanced layoffs in its wireline business with hiring in wireless, making for a net increase.

But Chief Operating Officer Denny Strigl says that will not be the case this time. He says there will be no large-scale hiring in wireless until the recession is over.

Verizon ended June with 235,000 employees. That doesn't include contractors.

Verizon shares fell 95 cents, or 3 percent, to $30.55 in morning trading.
http://www.google.com/hostednews/ap/art ... QD99MSAT82

Verizon installed fios lines in my neighborhood last year; the workers installing the lines were clearly from “out of townâ€

My cousin, a long time American (our family came over in 1640 and founded the first clothing mill on the east coast) worked for Verizon in a IT job - he was laid off about 4 months ago and still has not found work. He live in TX.
So they might have hired illegals where you are and for some type of jobs, but they do have many Americans working for them.
The part of the company where my cousin worked went to India. I mean the entire division.