Verizon Boosts East Coast Broadband With 1.8K New Tech Hires, Targets Rural and Underserved Areas
Portfolio Pulse from Anusuya Lahiri
Verizon Communications Inc plans to hire 1,800 additional technicians to support its broadband expansion across the East Coast. Many of the positions will be in areas where Verizon is expanding internet service in rural and underserved communities, with funding partly provided by the American Rescue Plan. The company aims to fill these positions by July 2026. In July, Verizon reported a sales decline of 3.5% year-on-year to $32.6 billion, missing the consensus of $33.3 billion.
October 17, 2023 | 3:40 pm
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Verizon's plan to hire 1,800 additional technicians for its broadband expansion could potentially improve its service coverage and customer base. However, the company recently reported a sales decline, missing consensus estimates.
The hiring of additional technicians indicates Verizon's commitment to expanding its broadband services, which could potentially attract more customers and increase revenues in the long term. However, the recent sales decline suggests some challenges in the company's performance, which might affect investor sentiment in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100