Verizon Announces Another Eight Thousand Layoffs

07.28.09 | FL News Team

Verizon Communications says it's being forced to lay off another eight-thousand workers. The company says the new cuts will be focused on its land-line division. Many Americans have decided they don't need a wired telephone at home or even in the office anymore. Either they're just using a cell phone or have opted for one of the less pricey Internet phone services. Verizon has already cut about eight-thousand positions over the past 12 months. The land-line division saw a five-point-two-percent revenue reduction in the second quarter of this year.

 

Verizon is still healthy in the area of wireless communications, with one-point-one-million customers added during the quarter. Verizon reported an overall profit of one-point-four-eight-billion dollars in April, May and June. However, that's down from the one-point-eight-eight-billion dollar profit reported during the same quarter last year.