Published reports indicate that Verizon Communications is looking to cut up to 1,700 jobs across its wireline operations as business for traditional telecom services continues to slow.
The telecom giant, which employs more than 190,000 people across its operations, is looking to trim its workforce through buyout offers for technicians and call-center employees, according to Reuters. Verizon reported first quarter wireline revenues dropped 2% year-over-year to $9.9 billion, with drops in both wireline margins and segment earnings before interest, taxes, depreciation and amortization.
Verizon Wireless, which Verizon controls a 55% stake in, reportedly announced plans earlier this year to close three call centers impacting approximately 2,600 jobs. The carrier is also consolidating a call center in Folsom, Calif., with a center in Rancho Cordova, Calif., in a move expected to impact 325 employees; and consolidating its Internet Response-Chat Team into a pair of locations in Ohio and Illinois that is expected to impact 250 employees.
Verizon’s stock (VZ) was trading up slightly Tuesday morning.
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