NEW YORK—Verizon Communications Inc. will be looking to make “significant” workforce reductions in the next year and a half, the company’s chief financial officer told analysts during a conference earlier this week.
“I think you will see some reductions on the wireline side that are significant … as you go through the next 18 months,” said Doreen Toben, executive vice president and CFO for Verizon, when asked about possible job cuts.
Verizon previously had announced as many as 7,000 positions would be slashed as a result of its acquisition of MCI Inc. The company employed about 252,000 people at the end of the first quarter, according to Verizon’s regulatory filings.
Verizon shares were up about 1 percent in midday trading.
