Verizon dey lay off more than 13,000 non-union employees, according to CEO Dan Schulman. Di announcement wey happen on Thursday, Nov. 20, dey come as part of di company effort to cut cost. Dis layoff go affect roughly 20% of di non-union management, wey be about 70,000 employees.
Schulman talk say Verizon don set up $20 million Reskilling and Career Transition Fund for di people wey di layoff go affect. Di fund go focus on skill development, digital training, and job placement to help dem take dia next steps.
Why Verizon Dey Do Layoff?
Schulman explain say di layoffs dey happen because of “cost structure limits.” Verizon dey try reduce dia expenses and improve efficiency. Di company no target any specific area wit di cuts.
How Di Layoff Go Take Affect?
Di dates wey di layoff go start go depend on state WARN Act laws. Di federal WARN Act dey require employers to give at least 60 days advance written notice for mass layoffs.
Verizon Join Other Companies Wey Dey Do Layoff
Verizon join many companies wey don lay off thousands of workers recently. Amazon confirm say dem cut 14,000 corporate jobs on Tuesday, Oct. 28, while Target reportedly announce plans to cut about 1,800 corporate jobs on Thursday, Oct. 23.
Overall, employers slash more than 150,000 jobs in October, di largest wave of layoffs in over 20 years, according to report from outplacement firm Challenger, Gray & Christmas.
Wetin You Need Know If You Dey Affected By Layoff
- Understand your severance package.
- Review your health insurance options.
- Start your job search immediately.
- Network with contacts in your industry.
- Consider reskilling or upskilling to improve your job prospects.