Verizon merges two landline units

Verizon is reorganizing its two landline telecom business -- Verizon Telecom, which serves consumers, and Verizon Business, which targets corporate clients -- into one group, as consumers continue to disconnect home phones in favor of cellphones or rivals. Verizon named Fran Shammo, president of Verizon Business, as president of the realigned wireline operations and said Shammo would report directly to Verizon Chief Executive Ivan Seidenberg. Verizon made no mention of job cuts but spokesman Peter Thonis noted that Verizon had been reducing headcount in its traditional phone business for up to six years in order to reflect the decline in home phone lines.