Thread regarding Verizon Wireless layoffs

Latest update on job cuts

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Verizon (VZ -2.4%) CFO Matt Ellis says the effects of COVID-19 and the coronavirus haven't been visited on the company's business, noting "We haven't seen a material impact yet."

But it's not immune from collateral effects and disruption, he said at an investor conference.

There's no change to customer behavior and no significant effect on its supply of handsets or network equipment, he says, though he notes that factory closures could eventually make handset supplies sparse.

Meanwhile, he says the company is interested in buying C-band spectrum, which it hopes to begin using as early as the end of next year, and it's going to expand its 5G residential fixed wireless service starting at the end of the year.

The company's halfway through $10B in cost cuts and plans to target the business segment and supply chain for more.

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Post ID: @OP+13NGGowR

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https://seekingalpha.com/news/3548174-verizon-yet-to-see-material-virus-impact

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Post ID: @2pgr+13NGGowR

Truth

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Post ID: @1rth+13NGGowR

This is total BS I work in a retail store and we have been out of most apple phones for almost 2 weeks and are running out of Samsung models, so this person is full of shyte!

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Post ID: @1bug+13NGGowR

So cuts to the Business section, but not Consumer section of employees?

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Post ID: @jwu+13NGGowR

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