Verizon says that 10,000 of its employees have accepted its buyout offer, representing roughly 7% of the company’s workforce.
The carrier initially announced the buyout program in September as part of its effort to trim its workforce and better prepare for its launch of a high-speed 5G service nationally, CNBC reports.
It offered eligible employees and managers up to 60 weeks of salary as well and bonus and benefits, depending on how long they had been with the company. The program was offered to 44,000 employees across Verizon’s business segments.
Those who chose to take the deal would have a final date at the company ranging from the end of 2018 through June 2019.
Verizon says that the individual departures shouldn’t create any problems for customers.
Verizon launched its 5G home Internet service in Sacramento, Houston, Los Angeles, and Indianapolis in October. Verizon claims that service offers speeds of 300 megabits per second, with the possibility of reaching 1 gigabit per second in some areas. At 1GB, a customer would be able to download a high-definition movie in less than a minute.