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Verizon Communications Inc. said it would 8,000 more positions by the end of the year as the company continues to be stung by a slowdown in corporate accounts.
Verizon spokesman Phil Santoro said the company would not be disclosing state-by-state breakdowns of affected workers. Verizon employs about 13,000 in Massachusetts.
The New York telecommunications giant (NYSE: VZ) announced the reductions in a conference call with investors discussing second quarter earnings. Verizon generated $26.9 billion in operating revenue, up 11 percent year-over-year. That figure included the acquisition of regional wireless carrier Alltel. It posted earnings per share of $.52, down from $.66 a year ago.
“Although we are taking steps to mitigate the negative impacts of the economy in the short-term, we also need to more significantly reduce the wireline cost structure over the next 12 to 18 months,” said chief financial officer John Killian in the call.
The company had already slashed 8,000 jobs in the last year, and will continue to cut costs in network integration, travel and real estate.
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