Verizon Announcing a Restructuring for Better Productivity and Growth

October 2009: there has been an announcement from Verizon Communications Inc. They are restructuring the company's products and services. Verizon Chairman and CEO, Irvan G. Seidenberg announced the restructuring and shared the companies desire to grow and achieve new levels of productivity.

This restructuring includes two of Verizon's businesses into one organization. Verizon Telecom and Verizon Business will now be known as one organization, Verizon Wireline. CEO Seidenburg is quoted as saying, "Our focus is on simplifying our organization with the objective of increasing speed to market, accelerating our growth trajectory and quickly reducing our costs in the process. This is a natural evolution of our business. Our first-class set of assets, strong balance sheet, and the momentum of our strategic growth areas give us a foundation on which to make changes that enhance the effectiveness of our structure to be more responsive to rapidly changing markets."

In this organization, Lowell McAdam will continue as his role of president and CEO of Verizon Wireless, with over 87 million wireless customers alone. Seidenburg continues, "As Verizon expands, we will resist the natural inclination to add complexity to deal with an increasing number of issues and interfaces," he added. "We will simplify how we work on behalf of our customers and our investors to capitalize on our strong position in our markets, and to achieve our potential for higher levels of growth."

Verizon Communications Inc. (NYSE:VZ), is headquartered in New York City and is a global leader in broadband and other wireless and wireline communications services to the mass market worldwide, business men and women, government facilities and to residential customers. Verizon Communications is also known for their popular residential services including FiOS, which is the only fiber optic service available to residents. Verizon FiOS is still not available in every state in the US but it is steadily advancing and spreading its service availability. Verizon offers bundle packages to residents and small businesses that start as low as 79.99 for six months. This bundle includes phone service, television and internet. Verizon is a cutting edge company that offers their customers the very best from wireless service to land line. Their communication is always sharp and clear and their focus is customer satisfaction. For more info on Verizon bundles and offers visit bestispoffers.com.