Looks like Verizon is looking at every possible place to get that extra 1 or 2 cents on their EPS.
Jan. 26 (Bloomberg) — Verizon Communications Inc., coping with subscriber losses at its fixed-line phone business, plans to cut about 13,000 jobs at the division this year after posting fourth-quarter revenue that missed analysts’ estimates.
The cuts will follow reductions of a similar size last year, Chief Financial Officer John Killian said on a conference call today. This year’s eliminations equal to 11 percent of the staff at the unit, which had about 117,000 workers at year-end. […]
[…] “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.”
Verizon, the second-largest U.S. phone company, fell 51 cents, or 1.7 percent, to $30.17 at 4:01 p.m. in New York Stock Exchange composite trading. The New York-based company’s stock declined 2.3 percent last year. […]
Also of recent note is Sams Club is cutting 10,000 employees, Lockheed Martin is cutting 1,200 employees.
