Prominent U.S. carrier Verizon Communications Inc. announced plans Wednesday to reduce its number of regional offices from 20 to six as part of a corporate restructuring effort in its wireless division, Bloomberg reported.
According to Bloomberg, the company informed employees of the pending transition on Wednesday afternoon.
Verizon Enterprise Solutions vice president of Communications – and former director of Corporate Communications – Jeffrey Nelson confirmed the company’s restructuring plan during a Thursday morning call with Wireless Week and said the shift will help Verizon better serve its customers.
“We are constantly working to evolve our operations to best support our customers’ changing needs,” Nelson said.
Nelson declined to provide a timeline for the move or the exact number of jobs expected to be cut as a result of the reorganization.
As of the end of the third quarter, Verizon had nearly 178,000 employees.
Last week, Verizon reported third quarter earnings of $1.04 per share on revenue of around $33 billion.
The carrier’s wireless division alone brought in $23 billion and added 1.3 million retail postpaid subscribers in the third quarter bringing its total subscriber figure for that segment to 105 million. Postpaid churn stood at .93 percent in the third quarter, down from one percent the year before.
Filed Under: Carriers
