Verizon Spends Billions To Buy AOL & Yahoo Then Cuts Thousands Of US Jobs [View all]

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By Liz Iacobucci | October 15, 2016

Continuing our “What’s wrong with the economy” series using Verizon as a case study…

You can read about Verizon’s decision to lay off 4,800 American workers in yesterday’s NH Labor News. (You might have missed it in the mainstream press, under all the election headlines.) The cuts include seven call centers as well as some retail stores.

How is Verizon going to serve its customers, once all those call centers are closed? The company “is offshoring customer service calls to numerous call centers in the Philippines, where workers are paid just $1.78 an hour and forced to work overtime without compensation.” (Wow. Not exactly a living wage.)

Guess what else was in the news yesterday. Verizon’s agreement to buy Yahoo for $4.83 billion. So…right now, Verizon is laying off thousands of American workers while it’s spending billions to acquire another company. Does that make any sense to you?

FULL story: http://nhlabornews.com/2016/10/verizon-spends-billions-to-buy-aol-yahoo-then-cuts-thousands-of-us-jobs/