Mutual-fund managers can’t catch a break, and maybe they never will. Hedge-fund manager David Einhorn caused a stir two years ago when he called markets “fundamentally broken.” Money regularly comes out of paychecks and pours into index funds tracking the S&P 500, buying stocks with no regard to value—only their weighting.
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Verizon has struggled to slow customer losses in its wireless business in recent years, and under new leadership, it is making major workforce changes. Dan Schulman, who became CEO of Verizon in October last year, has accelerated efforts to transform the company after it lost about 2.25 million ...
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The carrier will sell 274 company-owned stores and cut 500 corporate jobs
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The carrier will sell 274 company-owned stores and cut 500 corporate jobs
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The news comes several months after Verizon laid off 13,000 workers at the end of last year, signaling major strategy shifts for CEO Dan Schulman.
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It announced a fresh round of store transitions and employee cuts.
Verizon Communications is cutting around 3,000 more jobs, reducing the number of company-owned retail stores, and realigning its structure as the nation’s largest wireless carrier continues to cut costs under new CEO Daniel Schulman. Verizon will lay off 2,500 retail workers and 500 corporate employees, and will sell 274 of its corporate-owned stores to bring the overall number down to about 1,000, the company told Barron’s Thursday. Barron’s reported earlier this week that Verizon would announce layoffs on Thursday.
The latest trading day saw Verizon Communications (VZ) settling at $43.88, representing a +2.45% change from its previous close.
The 3,000 affected employees will no longer be on Verizon’s payroll, according to a report from Bloomberg.
Consumer stocks were higher late Thursday afternoon, with the State Street Consumer Staples Select S
The company is growing, and its dividend yield is quite high and well-covered.
The company will retain roughly 1,000 corporate-owned stores after the divestiture, which takes effect Aug. 16
The company plans to divest itself of 274 of its retail stores to franchise owners. Most of Verizon’s layoffs would come from the retail-store divestiture.
Investing.com -- Verizon Communications Inc. announced today that it will lay off about 3,000 employees in corporate-owned retail stores as the company moves 274 locations to independent ownership.
U.S. wireless carrier Verizon said it will sell 274 company-owned retail locations and cut about 500 corporate jobs as part of its ongoing restructuring. In total, the moves will impact about 3,000 retail and corporate employees. Verizon will own 1,000 stores after the sale effective Aug. 16.
AST SpaceMobile stock has fallen 27% in the past three months and its latest debt offering isn't helping.