Verizon Communications Inc. is implementing a restructuring plan that includes a pre-tax charge of up to $1.9 billion due to job cuts and real estate changes.
The largest US mobile carrier anticipates to record additional pre-tax charges of $230 million to $380 million in the third quarter from ceasing use of certain assets.
Verizon's recent acquisition of Frontier Communications for $9.6 billion aims to bolster its fiber-optic assets amid slowing growth in mobile subscriptions.
Despite a challenging environment leading to lower operating revenue, Verizon's shares have remained stable, with a 15% increase observed in the year to date.
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