Verizon Brags About Plan to Cut Thousands More Jobs

WASHINGTON – This week, on Verizon’s quarterly earnings conference call, Chief Financial Officer John F. Killian announced plans to cut tens of thousands more jobs at the company: "I mentioned on previous calls the last couple of years we’ve reduced our wireline work force by about 13,000 per year, and I said we would do the same this year. I actually think we have now the ability to do more than that this year."

Killian pulled in $9.8 million last year, while Verizon Chairman and CEO Ivan Seidenberg made roughly $17.5 million in compensation.

Josh Silver, executive director of Free Press, made the following statement:

“For all Verizon and the incumbent broadband providers talk about jobs when they lobby the FCC and the Hill, they sure seem excited when they talk to investors about how many people they get to fire. We hope the FCC and Congress will look past the incumbents’ rhetoric of 'regulations kill jobs' and make policy decisions based on the public interest rather than threats from the likes of Verizon.”

Link to Verizon’s first quarter report conference call: http://seekingalpha.com/article/200263-verizon-communications-inc-q1-2010-earnings-call-transcript?page=-1