Verizon Communications Inc. will shed about 10,400 workers who have accepted a severance package as the largest U.S. wireless carrier by subscribers works to cut $10 billion in costs and upgrade to a faster 5G network. Chief Executive Hans Vestberg said in a memo to employees Monday that the number of employees who were granted the packages represented more than 90% of the staff who volunteered.

Source: Wall Street Journal December 10, 2018 16:18 UTC