American company Verizon announced that it will lay off 4,800 employees, with a Q3 provision of $1.9 billion for pre-tax impairment to cover severance costs
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American telecommunications operator Verizon announced plans to lay off 4,800 employees and set aside $1.9 billion in pre-tax impairment charges in the third quarter for severance payments. This round of layoffs accounts for approximately 4.5% of its full-time staff. In addition, Verizon is implementing cost-cutting measures, including closing certain offices and divesting non-strategic businesses. FactSet analysts predict that Verizon's third-quarter revenue will be around $33.7 billion, with adjusted earnings per share of approximately $1.18
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