Verizon laying off 13,000 employees after bad 4Q results

Posted:
in iPhone edited January 2014
Source: http://www.bloomberg.com/apps/news?p...mHVKGOFk&pos=4



Excerpt:



Quote:

Verizon to Cut 13,000 Jobs as Businesses Reduce Lines (Update1) Share Business



By Amy Thomson





Jan. 26 (Bloomberg) -- Verizon Communications Inc., coping with subscriber losses at its fixed-line phone business, plans to cut about 13,000 jobs at the division this year after posting fourth-quarter revenue that missed analysts’ estimates.



The cuts will follow reductions of a similar size last year, Chief Financial Officer John Killian said on a conference call today. This year’s eliminations equal to 11 percent of the staff at the unit, which had about 117,000 workers at year-end.



Explain again how Apple needs Verizon Wireless. I'm looking forward to hearing the reasoning.

Comments

  • Reply 1 of 6
    samabsamab Posts: 1,953member
    Quote:
    Originally Posted by mdriftmeyer View Post


    Explain again how Apple needs Verizon Wireless. I'm looking forward to hearing the reasoning.



    That's the landline side, not the wireless side.
  • Reply 2 of 6
    MarvinMarvin Posts: 14,209moderator
    I don't get why AT&T and Verizon bother competing any more. People are pretty much going with one or the other - each of them has around 80 million subscribers. That's over 50% of the US population between them.



    Surely if they just merged and shared their network, they'd be making pretty much the same profits but consumers could benefit from the shared network coverage (Verizon has better 3G coverage as pretty much acknowledged by AT&T's response to their ad).



    The risk obviously is that without the competition, they just decide to rip-off customers and there's nothing they can do but at least you get good coverage so you can call them and complain about it.
  • Reply 3 of 6
    aquaticaquatic Posts: 5,602member
    Quote:
    Originally Posted by Marvin View Post


    I don't get why AT&T and Verizon bother competing any more. People are pretty much going with one or the other - each of them has around 80 million subscribers. That's over 50% of the US population between them.



    Surely if they just merged and shared their network, they'd be making pretty much the same profits but consumers could benefit from the shared network coverage (Verizon has better 3G coverage as pretty much acknowledged by AT&T's response to their ad).



    The risk obviously is that without the competition, they just decide to rip-off customers and there's nothing they can do but at least you get good coverage so you can call them and complain about it.



    Sounds too much like Microsoft and Windows and Office....I'd rather have competition. For example, the recent price-dropping war between AT&T and Verizon was good.
  • Reply 4 of 6
    samabsamab Posts: 1,953member
    Quote:
    Originally Posted by Marvin View Post


    I don't get why AT&T and Verizon bother competing any more. People are pretty much going with one or the other - each of them has around 80 million subscribers. That's over 50% of the US population between them.



    Surely if they just merged and shared their network, they'd be making pretty much the same profits but consumers could benefit from the shared network coverage (Verizon has better 3G coverage as pretty much acknowledged by AT&T's response to their ad).



    The risk obviously is that without the competition, they just decide to rip-off customers and there's nothing they can do but at least you get good coverage so you can call them and complain about it.



    That's like saying we should never had the cola wars --- because coca-cola's and pepsi's market share have been stable for years.



    If they ever merge their network infrastructure --- it would create unprecedented anti-trust issues --- very bad for consumers.



    You don't like AT&T's coverage then leave --- that is the only way AT&T will listen.
  • Reply 5 of 6
    mactrippermactripper Posts: 1,328member
    Sams Club is laying off over 11,000 workers and Home Depo is laying off 7,000 workers as well.



    The "Great Recession" continues...





    http://www.npr.org/templates/story/s...ryId=122940916





    http://www.huffingtonpost.com/2009/0..._n_160922.html
  • Reply 6 of 6
    ivan.rnn01ivan.rnn01 Posts: 1,822member
    Big day. How else do you think it may be....
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