Verizon Expects To Record A Severance Charge In Range Of $1.7B-$1.9B In Q3; Plans To Cease Use Of Certain Real Estate Assets And Exit Non-Strategic Portions Of Certain Businesses; Outlook Asset And Business Rationalization Charges In Range Of $230M-$380M In Q3
Portfolio Pulse from Benzinga Newsdesk
Verizon plans to record a severance charge of $1.7B-$1.9B in Q3 as it ceases use of certain real estate assets and exits non-strategic business portions. Additionally, it expects asset and business rationalization charges of $230M-$380M in Q3.
September 12, 2024 | 2:04 pm
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Verizon is set to incur significant charges in Q3 due to severance and business rationalization as it exits non-strategic areas and ceases use of certain real estate assets.
The announcement of significant severance and rationalization charges suggests Verizon is undergoing major restructuring. This could lead to short-term stock price pressure as investors react to the costs and strategic shifts.
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