“The company [Verizon] expects a severance charge of $1.8 billion to $2.1 billion in the fourth quarter, according to a Tuesday filing with the Securities and Exchange Commission. “
Certainly this will help VZ to reach 10B saving for next 3 years.
3 replies (most recent on top)
They won't. Market saturation means you that you won't have to acquire the great unwashed masses still not on wireless anymore. Really, you could get rid of all Verizon stores at this point. Amazon survives just fine with barely a retail presence, and it's not like you can't place agents in other retailers.
that essentially translates to 2B saving starting year 2
The two are completely separate issues.
Once the 10400 are off payroll, then there will be about 2 Bil savings per year.
Until they have to hire people to replace them.