Verizon Fires 13,000, Blames 'Efficiency' While C-Suites Thrive
Verizon, a titan whose 2023 revenue hit $133.9 billion, is “optimizing costs” by laying off 13,000 workers, according to The Hill. This isn't just about 'efficiency' or adapting to market changes. This is standard operating procedure: shed jobs, boost stock prices, and watch executive bonuses soar. While thousands are told their services are no longer needed, Verizon CEO Hans Vestberg's 2023
compensation package still clocked in at a cool $16.1 million (SEC filing, Proxy Statement DEF 14A, dated 03/20/2024). One might wonder how many 'redundant' positions are created managing those eight-figure salaries. This isn't just a telecom story; it's a blueprint for profit maximization in corporate America: brutalize the workforce, reward the top brass, and let the mainstream media report it
with a straight face. How many times must we witness this cycle of corporate greed disguised as fiscal responsibility?