Verizon Sees Fourth-Quarter Severance Charge $1.8 Billion to $2.1 Billion
An employee places items into a shopping bag for a customer at a Verizon Communications Inc. store in Brea, California.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
Verizon Communications Inc. expects fourth-quarter severance charges related to buyout program reported on Dec. 10 and other headcount reduction plans, the company disclosed in a regulatory filing.
Verizon also announced that its review of Oath segment resulted in unfavorable adjustments to the unit’s financial projections. The company sees a non-cash goodwill impairment charge of about $4.6 billion, or $4.5 billion after tax in the fourth quarter of 2018. Oath’s good will balance was about $4.8 billion before the impairment charge.