Without jobs, we cannot buy Verizon’s products or services

  • Verizon is sending 2,500 employees from the U.S. and abroad to work for Infosys, which is part of a $700 million deal with the outsourcing firm, according to a Wall Street Journal report Wednesday.
  • The agreement is part of a companywide effort to reduce costs by $10 billion, according to the report. Verizon is also offering severance packages to about 44,000 members of management, excluding employees in sales or “crucial” company roles, Bloomberg reports. Taken together, the severance package and the outsourcing agreement would impact up to 30% of Verizon’s 153,100-employee workforce, according to the Journal.
  • The voluntary packages would give employees three weeks of pay for every year worked at the company, maxing out at 60 weeks, according to the Journal. But the severance offer excludes employees under the outsourcing agreement. If Infosys job offers are declined, those Verizon employees will not receive a 2018 bonus.

https://www.ciodive.com/news/report-verizon-signs-700m-outsourcing-deal-with-infosys/538877/

 

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