Verizon Announces Job Cuts: How it's effecting Central New York

Verizon has announced more than eight-thousand job cuts by the end of this year. Central New York Verizon spokesperson, John Bonomo says these job cuts are in efforts to keep cost-cutting in balance with falling revenues. Bonomo says it will mostly be the telecommunications business side that will be losing many of the jobs.Verizon has already reduced their head count by 8,000 and that has been through attrition and voluntary offers that have been made to employees, they expect to do the same in the remainder part of the year.

New York-based Verizon made 63 cents per share, beating the average analyst forecast told by Thomson Reuters. Revenue rose 11 percent to about 2 million a year ago, matching expectations. The purchase of wireless carrier Alltel Corp. in January was the major reason for the increase.