Verizon Joins T-Mobile in Layoffs as Wireless Players Feel the Pressure

Verizon has followed rival T-Mobile in laying off staff. The wireless carrier would not disclose the exact number of employees it's cutting but did confirm the move had occurred. The layoffs come nearly two weeks after the nation's largest carrier announced that it lost 215,000 consumer phone accounts in the quarter that ended June 30. Even with the benefit of business customers, its overall net gain of 12,000 subscribers paled when compared to its rivals. T-Mobile, which brought on 723,000 postpaid mobile subscribers, recently confirmed its own layoffs. The cuts at both telecom providers, two of the largest employers in the nation, reflect the rocky economic environment and broader tightening of the belt in corporate America.