Verizon offers payouts to 44,000 staff

Verizon has offered early retirement packages to 44,000 workers, more than a quarter of its workforce. The severance packages, which offer three weeks pay for every year of service, is part of a “multiyear $10 billion cost-cutting effort” led by, Hans Vestberg, the company’s new CEO. Employees have until mid-November to take the package. Verizon has over 150,000 workers around the world but has seen a decline in its workforce as it moved away from landlines.