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Verizon to Cut More Than 10,000 Jobs After Sales Miss Estimates (Hope-n-Change!)
Business Week ^ | January 26, 2010, 10:01 AM EST | Amy Thomson

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 unit’s 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 Verizon’s 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 Verizon’s 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 doesn’t 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 ...


TOPICS: Breaking News; Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: bhoeconomy; broadband; change; hope; layoffs; telecom; verizon
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To: bamahead

I refuse to give mine up, and I live in a metro area. Call me a dinosaur but in the event of a national crisis or emergency, a hard line might end up being the only line.

I too refuse to give up my hard/land line.
I just watch (again) Live Free Die Hard with Bruce Wills yelling to the Government guy to get him a hard line.


81 posted on 01/26/2010 3:05:49 PM PST by missthethunder
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To: tcrlaf

I’m hanging on to my landline because if wireless ever goes down, I can still call out. I might reasses later, but so far the extra cost is like an insurance payment for me.


82 posted on 01/26/2010 5:12:36 PM PST by Oatka ("A society of sheep must in time beget a government of wolves." –Bertrand de Jouvenel)
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To: tcrlaf

Should be good for a 2% jump in the markets.


83 posted on 01/26/2010 5:16:36 PM PST by jwalsh07
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To: twigs

Good to hear your customer experience was improved with Comcast. We’ve come a long way in many markets.


84 posted on 01/26/2010 5:30:10 PM PST by miliantnutcase
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To: Dan Nunn

It’s fine, hey I’m glad you’ve had a good experience. It’s just that I’ve been in Verizon hell and when it happens it’s not good.


85 posted on 01/26/2010 5:34:19 PM PST by Williams (It's the policies, stupid)
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To: tcrlaf

86 posted on 01/26/2010 5:45:33 PM PST by Jet Jaguar
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To: Swordmaker; martin_fierro

Churn, churn, churn, there is a season...


87 posted on 01/26/2010 6:44:20 PM PST by SunkenCiv (Happy New Year! Freedom is Priceless.)
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To: Brookhaven
I am one who stubbornly sticks with this technology. In a hurricane, when there maybe no power for > 20 hours, their 20 hour battery will not cut it. But, they are not maintaining the landlines that well.

On 9/11 I could call out of NY State. I just couldn't call hubby in NYC on a cell phone. He finally got someone's rim pager to send me a voice message he was alive.

88 posted on 01/26/2010 6:54:42 PM PST by AmericaUnite
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To: tcrlaf

Raise their taxes! That’ll fix it!


89 posted on 01/26/2010 6:58:01 PM PST by Tzimisce (No thanks. We have enough government already. - The Tick)
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To: tcrlaf

“Help is on the way” - Barack Obama, Nov 2008


90 posted on 01/27/2010 1:28:49 AM PST by jla
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To: tcrlaf
“The economy, first and foremost, we really see no signs of improvement there,”

Walmart said the same thing. If Walmart is hurting, you know the poop is about to hit the fan.
Way to go, democrats - NOT!!!

91 posted on 01/27/2010 5:35:37 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: 1curiousmind
HEY OBAMA....CAN YOU HEAR US NOW ????!!!!

lol.

92 posted on 01/27/2010 5:39:32 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: AmericaUnite

We stubbornly stick with landlines too. We just moved and made certain that we had the landline to supplement our cell phones. Couldn’t imagine doing without the landline. Besides, I only give my cell number to people I want to call me at any time, like family. Others can call me at home.


93 posted on 01/27/2010 6:57:13 AM PST by twigs
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To: PittsburghAfterDark

Verizon FIOS is a reliable system and I have not had one single problem.


94 posted on 01/27/2010 7:04:42 AM PST by verity (Obama Lies)
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