It seems that corporations have taken a specific line of attack -offering record pay to CEOs and laying off hourly workers. Thistrend seems to be continuing as Verizon plans to lay off 1,700workers while the Verizon CEO was paid $22 million last year. Ananalysis of compensation to the top five executives at Verizonshows the executive pay has increased 400 percent. In 2007 the paywas $82,258,818, and in 2011 it was $349,226,194, according to theCommunications Workers of America (CWA). CWA is one of the unionsthat has members employed by with Verizon. While executive pay is seeing exponential increases, Verizon laidoff 26,000 employees in 2008-2009 and 13,000 in 2010. Verizon hasoffered buyout packages for technicians as well as employees atcall centers. In an attempt to reduce its" workforce byalmost 1%, Verizon says they will be forced to implementinvoluntary layoffs if not enough employees accept the voluntaryoffer. Verizon employs 92,000 employees in the United States. Forty-fivethousand of those workers are members of labor unions and went onstrike in August when talks failed to produce satisfactory resultsduring negotiations between the company and the union. Argumentsagainst the company included eliminating the company"spension plan giving management more leeway to outsource jobs anddramatically increasing health care premiums and deductibles,according to the International Brotherhood of Electrical Workers(IBEW). It seems the tides have turned as unions are being pushed out,benefits and incentives are being eliminated right along with jobs,and CEOs are being compensated significantly for poor production.In addition, Verizon recently announced that it will buy HughesTelematics, Inc. for $612 million in cash. According to Reuters: Verizon spokesman Robert Varettoni declined to comment on thefinancial impact of the deal beyond saying that the company sees itas a 'long-term revenue growth opportunity.' Verizon, which expectsthe deal to close in the third quarter, said it planned to retainHughes' management team and operate the business as a subsidiary inits Enterprise Solutions department. The boards of both companiesand holders of a majority of Hughes voting shares have approved thedeal, which is subject to U.S. antitrust approval and other closingconditions, Verizon said. As the trend continues, Americans workers continue to fear whatwill be next in the ongoing battle toward job stability. CEOcompensation seems to be the major priority for corporations, evenif the corporations are not faring well in the marketplace. article/2012/06/0 4/verizon-jobs-idUSL1E8H45J420120604 thinkprogress.org/economy/2012/06 /04/494469/verizon-layoff-ceo-pay/ online.wsj.com/article/SB10001424 052702304791704577416410823386798.html?m od=WSJ_mgmt_LeftTopNews#project%3DCEOPAY 2012%26articleTabs%3Dinteractive shownews/Veriz on-Job-Cuts-Just-Keep-Coming-106620. I am an expert from protectivephonecovers.com, while we provides the quality product, such as HTC Protective Case , Samsung Tab Leather Cover, iPhone4 Leather Cases,and more.
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