Pursuits
Verizon Says Labor Strife Will Put Pressure on Earnings
- Largest U.S. carrier added 640,000 new wireless users in Q1
- FiOS TV subscriber growth declined 60 percent from last year
What Were the Highlights of Verizon's Quarter?
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Verizon Communications Inc. warned investors Thursday that its standoff with about 39,000 striking workers will put pressure on second-quarter earnings, without offering specifics.
The nation’s largest wireless carrier took a hard stance with its two largest labor unions this month, forcing a strike of cable splicers, customer-service representatives and FiOS technicians from Massachusetts to Virginia that’s now in its second week. Almost all the workers are employed by the carrier’s landline business, which has seen annual declines in the number of lines served as well as job cuts.