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Verizon Wireless to cut many jobs?

After posting a fourth-quarter loss, Verizon Communications, Inc. said Tuesday it plans to cut about 13,000 jobs this year.

Verizon recorded a net loss of $653 million, or 23 cents per share, compared with a profit of $1.24 billion, or 43 cents a share, a year earlier. The loss came after the company took a charge of $3 billion for cutting a total of 17,000 jobs last year in both its landline and wireless divisions. Analysts polled by Thomson Reuters had forecast earnings of 54 cents per share.
http://money.cnn.com/2010/01/26/news/companies/verizon_layoffs/

Answer Question
 
Anonymous

Asked by Anonymous at 6:43 PM on Feb. 1, 2010 in Politics & Current Events

Answers (7)
  • OW!
    mancosmomma

    Answer by mancosmomma at 7:41 PM on Feb. 1, 2010

  • ouch!
    grlygrlz2

    Answer by grlygrlz2 at 7:55 PM on Feb. 1, 2010

  • Maybe the cell phone companies can get a bail-out, too! And then those 13,000 jobs can be "saved or created" !?!

    Man, this just sucks -- (from a little further in the article cited by OP)

    Verizon (VZ, Fortune 500) CEO Ivan Seidenberg said on the company's quarterly earnings call Tuesday that it will slash about 13,000 positions in 2010. The telecom giant previously cut 13,000 jobs from its landline business in 2008 and another 13,000 again in 2009.

    This paragraph totals 39,000 in 3 years. Good thing we got that stimulous, huh?
    29again

    Answer by 29again at 8:26 PM on Feb. 1, 2010

  • Obama has no money in the budget for NASA to return to the moon. Not only does that waste billions that it took to build the shuttle they were to use but it will cause more layoffs in several states. While it is debateable if going back to the moon is best people losing jobs is never good.
    Face it unemployment is not going down anytime soon. Thats the problem with Dems, they think what they do is going to help so much when in all truth it always hurts.
    This administration can toot their horn and say how the economy is improving all they want. The people know it's not true.
    I thought th Dems were supposed to be so caring and "for the little guy"
    itsmesteph11

    Answer by itsmesteph11 at 9:02 PM on Feb. 1, 2010

  • Oh my not good at all
    tnmomofive

    Answer by tnmomofive at 11:45 PM on Feb. 1, 2010

  • Wow they are my cell co.
    Ibelongtojesus

    Answer by Ibelongtojesus at 9:51 AM on Feb. 2, 2010

  • I hope it's not one of many major companies tend of laying off workers like last couple of years.
    Anonymous

    Answer by Anonymous at 6:32 PM on Feb. 2, 2010

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