Advertisement

Verizon to cut 8,000 jobs

NEW YORK, July 28 (UPI) -- U.S. telecommunications giant Verizon said it would cut 8,000 jobs in 2009 to reduce costs during the economic slowdown.

"Although we are taking steps to mitigate the negative impacts of the economy in the short-term, we also need to more significantly reduce the wireline cost structure over the next 12 to 18 months," Chief Financial Officer John Killian said in a conference call.

Advertisement

The company trimmed its workforce by 8,000 employees in 2008 and said it would continue to reduce expenses in travel, real estate and other areas, the San Francisco Business Times reported Tuesday.

Verizon Communication Inc. currently employs 235,000 workers, the newspaper said.

Latest Headlines

Advertisement
Advertisement

Follow Us

Advertisement