Why Verizon Wants Some Employees to Take Early Retirement
Verizon (VZ) rolled out a program that seeks to encourage thousands of its employees to take early retirement. This early retirement is part of the company’s initiative to trim its workforce and cut costs. A year ago, Verizon disclosed a plan to cut $10.0 billion in expenses by around 2021. Verizon’s early retirement program is voluntary and mostly targets management employees, while frontline salespeople are excluded from the program.