Verizon Communications’ chief financial officer John Killian has said the company still needs to reduce work force and plans additional cuts over the next couple of years. The cuts are in response to a shift in businesses to focus on the faster-growing wireless and FiOS video services, according to Dow Jones. The company has already cut 8,000 jobs in the past 12 months, and plans to cut another 8,000 positions in the second half. “We’ve been steadily reducing our overall work force size,” Killian said. “But, we realized that we need to do more and in an accelerated pace.” The recent cuts have been a response to the weaker economic environment, as well as a move away from its older wireline business. Verizon is looking at consolidating call centers and integrating services to save further costs on the wireline side, Killian said.
Verizon CFO Warns of Forthcoming Job Cuts
The cuts are in response to a shift in businesses to focus on the faster-growing wireless and FiOS video services.
September 11, 2009