Verizon Communications plans to lay off workers by mid-2019

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      Verizon Communications (VZ.N) said on Monday that 10,400 employees will leave the company by the middle of next year as part of the company's automatic separation plan.
Verizon Communications has been working to reduce costs while increasing investment in 5G networks. The company has said it will save $10 billion by 2021.
According to Verizon Communications, employees will receive up to 60 weeks'salary, bonuses and benefits based on their service life under the automatic turnover plan.
The company said it had 152,300 employees at the end of the third quarter ending Sept. 30.


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