Verizon to lose almost 5,000 employees by March
2024's brutal streak of tech layoffs continues to grow.
Verizon is the latest company to announce cuts, saying on Thursday that it expects to lose 4,800 employees by March, with about half of those leaving in September, per MarketWatch. The telecom giant also said it will charge up to $1.9 billion before taxes in severance pay. As recently as February, Verizon reported it had 105,400 full-time employees, so about 4.5 percent of its headcount will be cut by the end of March.
This year has been a vicious year for tech layoffs. Big companies like Twitch, Google, Microsoft, Sony, Amazon, and now Verizon have announced cuts in one form or another since January 1. Last month, Intel announced it would cut more than 15,000 employees.
As always, best wishes to those affected by Verizon's layoffs.