When Verizon reported his second quarter income a few days ago, he called his usual conference with analysts to advance the results and answer the Wall Street analysts and media questions. During the call, a company named Wolf Research found Peter Sopino Veraizon CEO Hans Westburg says the carrier will continue to reduce the workforce, though the size of these deductions was not by the executive.
Verizon CEO Westburg says Verizon will continue to decline its workforce
Westburgh told the analyst, “” Hayd Count – We have been very good, and it goes down all the time. So we have been very effective in handling our resources. “Data counting through Light Reading shows how effective Verizon has been. For example, when, when, Veraizon In 2012, there was a headquarters of 183,000, earning about $ 116 billion from its telecom business, including a mobile and fixed line. When the veil fell on 2024, Veraizon There were less than 100,000 employees, while the top line increased to $ 134.8 billion.
Hans Westburgh, CEO of Verizon. | Image Credit Verzone
Mayo sopino may have asked Westburg VeraizonPlans to hire services in the last quarter due to a slight increase in head cou. But Westburgh’s response was to indicate that Veraizon Still in cost cutting mode. Although the carrier’s manpower increased from 99,400 to the end of June at the end of March, the head count was still 3.7 percent year -on -year.
Analysts like Sopino like to see companies they follow, they reduce the workforce as it reduces costs rapidly. A reason not to expect Veraizon Going to rent is the use of AI. Veraizon It has just begun to bring the AI to its workforce, stating that the SEC, in its last annual report with a career, said that “we are using the AI in the deployment and rehabilitation of our network as well as the AI in the support of our customer and employees.”
Veraizon CFO Tony Skydas said, “We are continuing the cost, whether it is AI, whether it is a network. Veraizon Employees may be very upset about how difficult the career is.
Broadband providers with a $ 20 billion acquisition of Frontier Communications, about the soon -to -be -shutdown, Veraizon Harmony is discussed that it is expected to reduce the annual cost of 500 million. Savings are obtained by eliminating duplicate operations and jobs. Some lost jobs will come from Frontier, which is not so traumatic that the company has reduced 5,300 people in the last four years to reduce its head count 29 % in those years.
They Veraizon It is now more effective that cannot be denied. In 2012, one year we first discussed this article, Veraizon In income per employee took 1 631,000. It has increased to $ 1.35 million in revenue generated by each Veraizon While many people believe that AI is bringing these utility into the country’s largest wireless carrier, Veraizon Do not agree Veraizon They say that the use of AI to change human employees involves many risks.
This big question that Verizon will face further deductions in his workforce
In his latest annual report filed with SEC, Veraizon “There are technical, regulatory, moral and other risks that include the deployment and use of AI, especially generative AI models,” he said. There is no assurance that the use of AI will increase our product or services or will prove to be beneficial to our business, including our performance or profit. “
Veraizon Is only the US career cutting its workforce? AT & T Between 2017 and 2025, 139,000 jobs have been abolished, while Verizon has reduced 84,000 since 2012. If this is not the use of AI, then the carrier allows the pink slips to leave it as before, which means that companies like. Veraizon And AT&T has really discovered a way to run its business with a small head. And what is based on what VeraizonThe KCO says, the job deduction will continue. The biggest question is, will the business grow?
Read the latest from Alan Fredman
