Verizon to Take Quarterly Charge of Up to $1.9 Billion for Severance
Verizon’s headquarters in Basking Ridge, New Jersey.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Verizon Communications Inc. will take a pre-tax charge of as much as $1.9 billion in the third quarter tied to 4,800 planned job cuts.
The biggest US mobile carrier said it announced a voluntary separation program for some US-based management positions in June. Over half of the employees concerned will exit in September and the rest by the end of March, according according to a securities filing Thursday.