Boston, MA 02/21/2014 (wallstreetpr) – Verizon Communications Inc. (NYSE:VZ) plans to shut down five of its customer service call centers as part of its restructuring plans, a move seen as a necessary cost cutting measure. The move will essentially affect 5,200 employees. Some of the facilities that will face the axe include Meriden, Cranberry and Warren dale and New Jersey based business. The offices will be closed in May 8 a move that will lower the company call centers to 26 nationwide.
Verizon Communications Inc. (NYSE:VZ) plans to shift 2,200 of the employees to other nearby offices while the remaining 3,000 will be given the option of applying for other jobs, engage in a buyout package or relocate elsewhere in the country. The closure of the call centers is part of the company’s plan of reducing its cost of operation and is not part of the $130 billion purchase of Vodafone 45% stake in the company. The purchase of the 45% stake will bring the company under full control of its parent company Verizon Communications.
Verizon new offer to consumer
Verizon Communications Inc. (NYSE:VZ) plans to woo more consumers by launching a new offering called “MORE” Everything. The new plan intends to offer more data and unlimited global text messages to users. The plan is expected to give Verizon the much needed edge over its fierce rivals Sprint Corp and T Mobile US, Inc.
Pricing wars has been the order of the day in the industry as AT&T Inc. (NYSE:T) recently reduced its prices for its family plan that also included data on G LTE network. Verizon is currently reaping hard on the introduction of new smartphones that should increase the demand for data going forward. The company’s smartphone penetration stands at 70% having activated a total of 8.8 million in the fourth quarter alone.
Verizon Communications Inc. (NYSE:VZ) was up on Thursday trading session moving up by 3.42% to close the day at a high of $48.12.
