BANZAI7 NEWS--After posting a fourth-quarter loss, Verizon Communications, Inc. said Tuesday it plans to cut about 13,000 jobs this year. Of those, 6,000 are employees who send FiOS junk mail to New York area residents every 24 hours. The remaining 7,000 are FiOS employees who call on the phone before and after New Yorkers eat dinner every evening. All 13,000 will be replaced by a hotel room full of 12 Mumbai used car dealers armed with Skype phones.
Verizon recorded a net loss of $653 million, or 23 cents per share, compared with a profit of $1.24 billion, or 43 cents a share, a year earlier. Sorry to hear it.