Verizon Lays Off 44,000, Transfers 2,500 More IT Jobs To Indian Outsourcer

**Banacek** · 10-06-2018, 05:17 PM

Earlier this week, Verizon confirmed that it offered a voluntary severance package (VSP) to about 44,000 employees and that it will transfer over 2,500 IT staff - some rumors suggest the figure to be closer to 5,000 employees - to India-based Infosys as part of a $700 million outsourcing deal.

The layoffs and transfers will impact more than 30% of Verizon's 153,100-employee workforce - as of the end of June - and are part of a 4-year plan to save the largest U.S. wireless carrier $10 billion by 2021.

Verizon's severance package mostly targets long-time employees - with more than 30 years at the company - and is also more generous than for its last round of buyouts, 13 years ago, giving employees 3 weeks of pay for every year worked at the company, capped at 60 weeks

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