Verizon Communications VZ 1.15%increase; green up pointing triangle will begin notifying employees Thursday if they are affected by its largest-ever round of layoffs, the company’s chief executive said in an all-staff email viewed by The Wall Street Journal.
Verizon plans to lay off more than 13,000 employees as part of CEO Dan Schulman’s plan to aggressively reduce the company’s entire cost base. Verizon is facing fierce competition for both wireless-service and home-internet customers, and Schulman said he plans to reverse a recent trend of customer losses.
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