Posted on 01/26/2010 7:24:47 AM PST by tcrlaf
Verizon Communications Inc., the second-largest U.S. phone company, plans to cut more than 10,000 jobs at its fixed-line unit this year after posting fourth- quarter sales that missed analysts estimates.
The company plan to keep cuts at the same level as last year, when it reduced 13,000 positions, or about 9 percent of the units workforce, Chief Financial Officer John Killian said on a conference call today. The business had about 117,000 workers at year-end.
Sales rose 9.9 percent to $27.1 billion, missing the $27.3 billion average of estimates compiled by Bloomberg. Revenue at Verizons fixed-line service dropped 3.9 percent, muting mobile- customer gains that beat some analysts projections. High unemployment hurt sales to companies and damped growth at Verizons FiOS Internet and TV service, said Christopher King, an analyst at Stifel Nicolaus & Co.
The economy, first and foremost, we really see no signs of improvement there, said Baltimore-based King, who advises investors to buy the shares and doesnt own any. I would have expected to see a little bit more signs of stabilization in the fourth quarter.
(Excerpt) Read more at businessweek.com ...
We have been Verizon Wireless customers for years - good coverage, good service and any time there was an issuse, it was addressed and fixed.
The only jobs 0bama created were Czar jobs.
Maybe that is Verizon’s new marketing plan...
“Verizon’s customer service; it’s like sex with a paper shredder.”
Nothing like an plain old telephone service POTS when the power is out, but if the phone lines aren’t cut the phone still works. Great old simple technology as a backup in an emergency.
I wonder what the problem could be.
Ever try teaching a 2 year old to dial 911 in case of an emergency on a cell phone?
Me neither, but if I had one, I'd definitely have a land line.
Verizon has done worse than that to us and others that I know. They put a ding on our credit for a hundred dollar charge from more than fifteen years ago, but they can’t tell us what it was for or why we were never billed for it. As near as we can figure, the bill is probably from a time that we moved and shut the service off at one house and had it turned on at another. Verizon forgot to shut off the first house for three months, but never sent us a bill. The new people finally felt guilty enough to have the phone changed to their name.
Another friend of mine had an unpaid bill put on their credit for a step son who died. The young man had the same name as his father, but lived on the other side of the country his whole life. Both happened to be Verizon customers.
I had Altell which became Verizon. I have had no complaints so far.
“”””During and after hurricane Hugo, the phones were the only thing that worked. A group of us older people was talking to a younger man about why we keep a land line in case of emergency.”””””
People were ditching land lines in 1989?????
You think that after maybe 90 minutes on the phone, with people telling you they are switching you to the right dept, and it NEVER being the right dept. - 90 minutes and this has happened multiple times.
You think the problem was that I wrote taht I yelled at them?
OK let me rephrase, I tried to impress the latest person on the line that I had been on for hours, that I had been transferred multiple times, and that I do not want to merely have the same thing happen again and to please get me to a person who can help.
You think that was a problem caused by me? Which dept at Verizon do you work at? And by the way, the passionate request for help doesn’t work. They transfer you again, you wait 20 more minutes, and if you’re lucky the system just hangs up on you at some point.
Just maybe a huge corporation’s service depts can actually have the ability to get a customer an answer to questions that must come in 10,000 times aday?
I WISH i could get FIOS. I live in rural upstate NY but about 10 minutes north of a city. I’m stuck with the local mickey mouse telco’s DSL. And they charge big time money for what little service they offer.
Can you hire me now?
I am been on hold with Verizon today for over an hour to order new service and no one answers the phone.
No wonder they are losing money when they dont answer the phone to accept new business.
Just wish there was an alternative.
And yes, Verizon added a ‘crammed’ OAN/KOOL Telecom charge onto our bill this last cycle we did not order. Called to complain and told them I already had a ‘cram block’ on the account and our account needed a pin number to add/delete services.
They said the law prevents them from preventing people from adding service charges to your phone bill.
Whoa! I don’t work for Verizon, you don’t need to yell at me too. Just sayin’, I’ve never had some of the problems that people have complained about on here. Been with them since they bought out the regional carrier in this market back around 2001 or so, Frontier Wireless.
Nothing like loyal employees to push the product! Wonder if he's related to George Soros!
That's Racist.....oh wait
nevermind
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.