Verizon  Company Profile

Verizon  Company Profile


  • Posted by  FreshersWorld 
    7 Jan, 2012

     
    Verizon Company Profile

    Verizon Communications, Inc. provides communication services in the United States and internationally. It operates in two segments, Wireline and Domestic Wireless. The Wireline segment provides voice, video, and data services to residential and small business customers in 28 states and Washington D.C. It operates a Fiber-to-the-Premises (FTTP) network under the FiOS service mark. FTTP network offers bandwidth for voice, data, and video services, and FiOS provides broadband access speeds and digital voice services. This segment also offers voice, data, Internet communications, next-generation IP network, and information technology products and services to businesses and government customers, including multinational corporations and state and federal governments. As of December 31, 2007, its network operated approximately 41 million wireline access lines, 8.2 million broadband connections, and had 943,000 FiOS television TV customers. The Domestic Wireless segment provides wireless voice and data services across wireless networks in the United States. As of the above date, its network covered a population of approximately 263 million and provided service to 65.7 million customers. The company was founded in 1983. It was formerly known as Bell Atlantic Corporation and changed its name to Verizon Communications, Inc. in 2000. The company is based in New York, New York see less

    Verizon is the nation's largest telecommunications company. It provides local and long distance service. high-speed Internet access and TV service primarily in the mid-Atlantic and northeastern U.S.

    Verizon serves customers in 29 states with wired phone service and DSL broadband Internet access. The company has 8.2 million broadband users.

     

    History

    Verizon was formed by the merger of Bell Atlantic and GTE in July 1998. The Verizon name comes from veritas, the Latin word connoting certainty and reliability, and horizon, signifying forward-looking and visionary.

    In 2005, Verizon acquired MCI, formerly known as Worldcom.

    The company spun off Verizon Directories in 2006, the second-largest publisher of phone directories in the nation. This includes the SuperPages.com directory and now trades independently on the NYSE as Idearc Inc.

     

    Benefits

    Verizon offers medical, dental, vision, life insurance and reimbursement accounts. We also have a number of work/life benefits such as an Employee Assistance Program, Dependent Life Insurance, Adoption Assistance, and in some locations, Day Care Assistance. We have a generous time off plan including vacation, personal days, and holidays.

    Tuition assistance is also provided. Employees are encouraged to expand their professional qualifications by attending training classes, seminars, and conferences.

    Verizon also offers retirement benefits, including a 401(k) with matching contributions and a pension plan. The company announced it would freeze all pension plans on June 30, 2006 for managerial employees and increase 401(k) contributions. These employees will retain pension benefits they have already earned, continue to be eligible to grow into their early retirement pensions, and on June 30, 2006, receive an 18-month enhancement to the value of their pension and retiree medical benefits. These changes will not affect current retirees.

     

    2008 revenues at Verizon Communications Inc. totaled $97.1B, while annual earnings equaled $2.54 per share.

    Headquarters Greater New York City Area
    Industry Telecommunications
    Type Public Company
    Status Operating
    Company Size 10,001 or more employees
    2007 Revenue $93,469 mil (6%)
    Founded 1983

     

    Address

    Headquarters

    140 West Street
    New York, NY 10007
    United States

    For more details please visit http://www.verizon.com

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