Verizon Announces 10,400 Employees Will Voluntarily Leave the Company

Verizon today announced that 10,400 employees -- about 7 percent of its worldwide workforce -- are taking buyouts to leave the company. 'This is part of an effort to trim the telecom giant's workforce ahead of its push toward 5G,' reports TechCrunch. From the report: Verizon put this offer on the table in September with a goal to save $10 billion in cash by 2021. The offer, which included 60 weeks of salary bonus and benefits depending on length of service, applied to 44,000 employees across Verizon's business. 'For those who were accepted, the coming weeks and months will be a transition. For the entire V Team, there will be opportunities to work differently as we prepare for the great things to come at Verizon,' CEO Hans Vestberg said in a note to employees, CNBC reports.

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