The telecommunications company Verizon announced it will lay off more than 13,000 employees.
Verizon Notified Employees by Letter
Verizon CEO Dan Schulman wrote to company employees, stressing in his letter that the business must be renewed to satisfy customers’ expectations and to reinforce its market leadership.
Schulman noted that the current financial structure restricts investments in the value delivered to customers and said the whole organization will be realigned to concentrate on providing the best service.
13 Thousand Employees to Be Laid Off
Noting the need to streamline company operations, Schulman announced that more than 13,000 employees will be let go, and that the use of external contractors and other outsourced labor costs will be reduced significantly.
Schulman said rapid shifts in technology and the economy are impacting workforces across all sectors and that this move is a result of global transformation.