Layoffs at Verizon continue, this time the Mid-Atlantic Region is being hit hard. Corporate profitability? Apparently that doesn’t matter, if they can cut, they will.
What does this mean to you? It means that no matter how safe you feel, you should always be smart. More and more loyalty is becoming a one way street.
BOWIE, Md. — Just in time for the holiday season, one of America’s most profitable companies announced plans to cut more than 1,000 employees in the mid-Atlantic region. In all, 1,078 employees, including technicians in Washington, D.C., Maryland and Virginia, could face the loss of their jobs. This is the third layoff at Verizon in recent months.
Verizon made $6.4 billion in profits last year and made $4.3 billion in the first three quarters of 2009. CEO Ivan Seidenberg is one of the country’s highest paid executives, grossing $18 million in 2008. Verizon has announced layoffs in other operations as well.
“At a very stressful time for our economy and working families, Verizon is abandoning the very employees who provide the quality service that makes Verizon so profitable,” said Ron Collins, CWA Vice President for the mid-Atlantic region. “This is an extremely successful company that should be helping lead our economic turnaround, not cutting jobs and harming service to consumers. This is all about corporate greed,” said Collins. “Verizon doesn’t have enough staff to meet the current customer needs, yet they have announced the current surplus.”
“The layoffs will have a ripple effect through the local economy, while other countries and regions stand to benefit,” Collins said. “Verizon nationwide has already sent thousands of good customer service and technical jobs to low-wage companies in Mexico, Canada, the Philippines, India and other parts of the United States.”
