Verizon Communications will cut more jobs to offset its shrinking home-phone business and the weak economy, chief financial officer John Killian told an investor conference in California today.
The cuts are in addition to the 8,000 layoffs Verizon announced for the second half of this year, Bloomberg News reported.
The company employs about 5,100 in North Carolina, mostly in Cary, Durham and Research Triangle Park. It's unclear how many local jobs have been cut this year.
The new layoffs would happen over the next few years, Killian said.
Verizon is trying to bolster its finances by focusing on its wireless business and the FiOS Internet and TV service.
Assistant Business Editor Alan M. Wolf joined the N&O in 1999 covering the business of health care. He became an editor in 2001, and helps oversee the paper's daily business coverage and Sunday Work&Money section. He lives in Clayton with his wife and two children. Reach him at 919-829-4572 or
Comments
Verizon
Fri, 09/11/2009 - 08:49 — jkapiliWhy not look into the real numbers that Verizon Communications are really laying off. While Verizon uses the name casually it really is much more than Verizon Communications. Hiding behind the umbrella of separate Corporations the numbers are much more. Look at the companies and employee's that it has purchased, merged, transfered, sold and the real numbers are staggering. A Nod is as good as a Wink to a Blind Horse