Verizon to cut 1,000 jobs?

13 November 2014 |

Verizon Communications will slash approximately 1,000 jobs via buyout offers to employees, a person with knowledge of the situation told Bloomberg.

The US carrier is reportedly consolidating a number of its product teams, and intends to complete the job cut process by the end of the year.

However, according to a regulatory filing, the reduction is said to represent less than 1% of Verizon’s global employee base.

In an emailed statement to reporters, Verizon said: “We are always looking for ways to make the business more efficient.”

At Capacity Europe in Amsterdam earlier this month, Eric Cevis, president at Verizon Global Wholesale said that technological advancements are creating huge opportunities for the wholesale market.