After billions in subsidies, Verizon is engaging in massive layoffs, and studiously avoiding building up its fiber:
Verizon this week announced it would be trimming its workforce by more than 10,000 employees—despite repeatedly claiming the bevy of tax breaks and regulatory favors it has received in recent years would boost job creation and network investment.
According to a Verizon blog post, the company will be eliminating roughly 10,400 workers, or around 7 percent of its workforce, as part of what the telecom giant is calling a “voluntary separation program.” Under said program, Verizon says volunteers will receive “up to” 60 weeks’ salary, bonus and benefits “depending on length of service.”
Verizon insists the staff reductions are necessary to “optimize growth opportunities” related to next-gen 5G wireless, and to “better serve customers with more agility, speed and flexibility.”
But the workforce reduction comes after repeated claims by the telecom giant that a rotating crop of regulatory favors and handouts—from last year’s attack on net neutrality to the Trump tax cut—would buoy both job creation and broadband investment, neither of which has actually happened.
The slowest and most expensive broadband in the developed world.
The solution is publicly owned and operated broadband.