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Verizon (VZ -0.3%) launched an early retirement program to reduce its workforce, The Wall Street Journal reports.
According to the report, the company offered redemptions to thousands of employees, including all management employees and some staff, although front-line employees are excluded.
This is the first tender offer of this type in 13 years.
Packages include three weeks of salary for each year of service, more "employee friendly" than previous redemptions, says Verizon.
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