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 ...
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.
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.
Should be good for a 2% jump in the markets.
Good to hear your customer experience was improved with Comcast. We’ve come a long way in many markets.
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.
Churn, churn, churn, there is a season...
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.
Raise their taxes! That’ll fix it!
“Help is on the way” - Barack Obama, Nov 2008
Walmart said the same thing. If Walmart is hurting, you know the poop is about to hit the fan.
Way to go, democrats - NOT!!!
lol.
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.
Verizon FIOS is a reliable system and I have not had one single problem.
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