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Verizon's 10,000 Job Cuts a Wrong Number to Street

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Verizon Communciations


was down 1.8% in late morning.

It previously announced a series of cost-saving measures, including cutting the use of contractors, reducing overtime and shrinking staff though attrition and layoffs.

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The company said it would cut the equivalent of 10,000 employees, although it may add some in fast-growing units.

The telephone and data company also unveiled plans to expand abroad.