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Verizon CEO Dan Schyman to Cut Bureaucracy and Workforce

Fortune · ·by G4L

VZ Verizon Communications Inc
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  1. 1Verizon CEO Dan Schyman warned of layoffs while pointing to loss of market share and bureaucratic issues.
  2. 2Verizon cut 13,000 jobs, approximately 13% of its total workforce, within one month of his appointment.
  3. 3SpaceX purchased an $8 billion low-band cellular spectrum license portfolio in October.

So what's the key point?

Verizon's new leader reduced the workforce by 13,000 employees to eliminate complex procedures. The company made the decision to cut staff to avoid losing ground in the market.

Source Fortune · View original ↗

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