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Verizon says to shed 10,400 jobs by mid next year

December 10, 2018 4:08 PM
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(Reuters) - Verizon Communications Inc said on Monday that about 10,400 employees will be leaving the U.S. wireless carrier by mid next year as part of the company’s voluntary separation program.

The New York-based company has been looking at cutting costs as it ramps up investment in its next generation 5G network, which is expected to fuel growth. The company has said it was on track to reach $10 billion in cumulative cash savings by 2021.

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