---
title: "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"
description: "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"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/214260966.md"
published_at: "2024-09-13T08:27:43.000Z"
---

# 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

> 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

US telecommunications operator Verizon announced a major move to lay off 4,800 employees by March next year. To do this, Verizon will make a pre-tax impairment of $1.9 billion in the third quarter, which is approximately 13.53 billion RMB at the current exchange rate, to pay for severance.

In a document submitted by Verizon in February this year, the company claimed to have 105,400 full-time employees at that time, with 89% working in the United States. This means that the layoffs account for approximately 4.5%.

In addition, Verizon is implementing various cost-cutting measures, such as no longer using certain offices and abandoning the "non-strategic parts" of certain businesses.

FactSet analysts predict that Verizon's revenue in the third quarter will be around $33.7 billion, with an adjusted earnings per share of about $1.18. In comparison, the revenue for Q3 2023 is projected to be $33.3 billion, with earnings per share of $1.08

### Related Stocks

- [VZ.US - Verizon](https://longbridge.com/en/quote/VZ.US.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
