Vodafone, a telecom company, recently disclosed its intention to eliminate 11,000 jobs over the following three years. A new telecom provider has just been added to the list. Following this, now, it is reported taht the US telecom service provider Verizon intends to lay off staff members from its customer care section.
Verizon has informed the staff members of the customer support division about the impending restructure, as per a report by The Verge. The article also mentions a meeting the corporation held with 6,000 employees where it discussed their plan to lay off workers. However, there's a potential that this business decision will have an effect on more personnel. The survey further implies that positions in customer experience, loyalty, and technology will be affected.
Reason for the job cuts, probably: As per reports, this layoff warning was issued when Verizon reported Q1 '23 earnings that were below expectations. The telecom company also noticed a drop in subscriber numbers. In the quarter, the business lost 127,000 postpaid members. According to the report, participants on today's call were informed that they may accept a severance package (two weeks per year of service) or, in certain circumstances, apply for positions to "transition to the next stage of your career journey."
According to sources, the Comapny has given staff members until June 7 to decide on their preferences. It is crucial to remember that applying for new roles does not guarantee employment, and Verizon will let people who decide against the severance option know about their employment status by June 23.
Verizon has been approached by The Verge to learn more about the situation. If the rumoured layoffs materialise, it would continue a pattern of huge employment cutbacks in the IT sector, with major businesses like Meta, Disney, JioMart, Lyft, and others making similar job cuts.
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