More layoffs to free up cash and keep up with innovations: Verizon says 10,000 employees have accepted its buyout offer ...
Verizon first announced the restructuring earlier this fall as part of a larger effort to trim workforce ahead of a push into 5G network service.
Part of eliminated jobs actually outsourced, by a good old business tradition:
... Verizon confirmed that it offered a voluntary severance package (VSP) to about 44,000 employees and that it will transfer over 2,500 IT staff - some rumors suggest the figure to be closer to 5,000 employees - to India-based Infosys as part of a $700 million outsourcing deal.
In a similar recent case but different industry, General Motors cut thousands of jobs in a major restructuring aimed at generating cash to spend on innovation.