Telecom giant Verizon Communications Inc. (VZ) offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide.
For the fiscal third quarter (ended September 2022), VZ reported 189,000 wireless retail postpaid phone net losses in its Consumer segment due to elevated churn, partially because of its recent pricing actions. As a result, the company is increasingly focusing on cost-cutting measures. Last week, the company laid off a small portion of its workforce.
