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Verizon Loses 10 Percent of Work Force

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NEW YORK, Nov. 20 -- Verizon Communications said about 10 percent of its total workforce -- double the number expected -- took an early retirement offer aimed at slashing the Bedminster, N.J.-based telecommunications giant's costs amid a slumping market for local phone service, the Hampton Roads Daily Press reported today. But Verizon Vice Chairman Larry Babbio told a meeting of analysts in New York Monday that the company's push to become more of a broadband provider is on track to expand substantially next year, the article said. At the UBS Eighth Annual Global Communications Conference...Read full article

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    Published: November 2003
    Glossary
    broadband
    Indicating a capability to deal with a relatively wide spectral bandwidth.
    broadbandCommunicationsfiber opticsGlobal Communications ConferenceNews & FeaturesVerizon

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