Business Services Industry
Verizon Employees Take Buyouts; 21,600 Workers Accept Severance Packages.
Knight Ridder/Tribune Business News, November, 2003
By Nancy Dillon, Daily News, New York Knight Ridder/Tribune Business News
Nov. 18--Verizon will usher 21,600 of its workers out the door by Friday -- nearly double the number of resignations expected when it offered souped-up severance packages last month.
The departing employees, about 10 percent of the phone company's workforce, have accepted the lump sum or early retirement packages offered to help hack costs at the nation's No. 1 local phone company.
They include 5,600 union workers, mostly technicians and call center operators, and about 16,000 nonunion managers and administrative staff.
Many of those taking the buyout are expected to search for new jobs and could have an impact on the city's 8.8 percent unemployment...
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