Verizon's 'Largest Layoffs Ever' Coincide with Executive Raises
Verizon appears ready to enact its 'largest layoffs ever,' impacting 15 percent of its workforce, according to Al Jazeera's report. This predictable corporate maneuver always triggers the same tired excuses about 'market conditions' or 'efficiency gains.' What these reports conveniently gloss over, as always, is the consistent pattern of executive compensation soaring while rank-and-file employees
face the chopping block. While 15,000 families are about to lose their livelihoods, one might wonder if Verizon’s CEO Hans Vestberg is taking a pay cut. (Spoiler: he isn't. Verizon's proxy statements routinely reveal multi-million dollar compensation packages for its top executives, even amidst previous 'restructurings' and 'voluntary separation programs.' These 'tough decisions' are always made
easier when they don't apply to the people making them.)