Verizon to Buyout 10,000 Employees
- 5 years ago
Verizon to Buyout
10,000 Employees The telecom giant has offered 7% of its global workforce up to 60 weeks of salary, bonus and benefits. The package was contingent on each worker's length of service. End dates for those who accepted the deal range from year-end 2018 to
June 2019. CEO Hans Vestberg via note to employees This is part of Verizon's goal to save
$10 billion in cash by 2021. Verizon first announced restructuring ahead of a push into its 5G network service.
10,000 Employees The telecom giant has offered 7% of its global workforce up to 60 weeks of salary, bonus and benefits. The package was contingent on each worker's length of service. End dates for those who accepted the deal range from year-end 2018 to
June 2019. CEO Hans Vestberg via note to employees This is part of Verizon's goal to save
$10 billion in cash by 2021. Verizon first announced restructuring ahead of a push into its 5G network service.