Is Verizon's Voluntary Separation Program An Attempt To Layoff An Older Generation Of Workers? [Forbes]
Verizon Communications Inc. (VZ)
Last verizon communications inc. earnings: 4/24 07:30 am
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Source: Forbes
Photographer: Andrew Harrer/Bloomberg BLOOMBERG NEWS Verizon Communications bought Yahoo, AOL and The Huffington Post in an attempt to build a media empire, Oath, to compete with Google and other social media giants. The Oath division was valued at about $4.8 billion last year and today it is estimated to be worth roughly $200 million. Verizon is now investing $10 billion into the rollout of their new 5G technology program, which is touted by the company to be “one of the fastest, most robust technologies the world has ever seen.” To compensate for the disastrous loss in the Oath division and the need to pay for the 5G plan, Verizon instituted a “voluntary separation program,” one that appears to be a thinly veiled massive layoff. Hans Vestberg, Verizon’s CEO, in a corporate press release, stated that “approximately 10,400 employees have been accepted as part of a voluntary program to leave the business as the company better positions itself for future gro
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VZ
Earnings
- 4/22/24 - Beat
VZ
Sec Filings
- 4/25/24 - Form 10-Q
- 4/22/24 - Form 8-K
- 4/16/24 - Form PX14A6G
- VZ's page on the SEC website