Verizon Wireless: More Job Cuts

Verizon Communications, who has a stake in Verizon Wireless, have announced that they are to cut 8,000 more jobs by the end of the year, the reason for these cuts is because its profits have fallen by 21 percent. The US network carrier reported that its profits for the April to June quarter were just $1.48bn, compared to $1.88bn last year.

According to BBC News, total revenues for Verizon rose to 11.3 percent during Q2, however its landline profits dropped by 5.2 percent. The jobs that are being cut are at its landline unit, this is a huge blow for that sector as the same amount of jobs was cut there last year.

Verizon Wireless has the largest growth in the mobile network sector; they have seen its customer base rise by 28 percent in the last quarter. If Verizon are successful in offering the Apple iPhone in 2010, then we can expect that number to increase by a huge amount.

CLICK HERE to keep updated with the latest news, share a comment or problems with products and services. Follow us on twitter or read more verizon wireless news.