Verizon To Give Buyouts To 10,400

Verizon Communications said 10,400 employees, or about 6.8 percent of its total staff, were accepted for voluntary buyouts as the company seeks to trim $10 billion from costs and retool for 5G wireless technology.The exit packages were available to as many as 44,000 Verizon employees, according to the statement. The buyout is the company’s second-largest, after a 2003 offer in which 21,600 employees accepted severance packages.“For those who were accepted, the coming weeks and months will be a transition,” CEO Hans Vestberg wrote in a letter to employees.

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