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Thursday, 15 September 2011 - Verizon says storms, strike cost it up to $250 million |
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The computer can tell 13 Sep 2011 Discussed 152 Al Gore in 24-hour broadcast to convert climate skeptics 125 Number of poor hit record 46 million in 2010 102 Obama to call for urgent steps on economy Watched Buenos Aires Fashion week sizzles Mon, Aug 22 2011 The merchants of Tripoli Tue, Sep 13 2011 Rig rescue captured in Navy footage Tue, Sep 13 2011 Verizon says storms, strike cost it up to $250 million Tweet Share this Email Print Related News AT&T fights back at U.S. challenge of T-Mobile deal Fri, Sep 9 2011 UPDATE 3-AT&T fights back at US challenge of T-Mobile deal Fri, Sep 9 2011 New Orleans holding up under Tropical Storm Lee Sun, Sep 4 2011 New Orleans braces for Tropical Storm Lee Sat, Sep 3 2011 AT&T prepares two-track plan to save T-Mobile deal Fri, Sep 2 2011 Analysis & Opinion Google and Motorola shouldn’t worry about DOJ’s AT&T suit Irene should blow U.S. utility deal off course Related Topics Technology » A sign of Verizon Wireless is seen at its store in Westminster, Colorado April 26, 2009. Credit: Reuters/Rick Wilking NEW YORK | Wed Sep 14, 2011 3:52pm EDT NEW YORK (Reuters) - Verizon Communications (VZ.N) faces a bill of up to $250 million due to its labor strike and recent storms, which will also slow down customer additions for the next few months. Verizon said on Wednesday it will need another 90 to 100 days to clear the strike-related backlog for installation of services such as FiOS TV. And it said the workload for network repairs would not be back to normal for another two to three weeks. The telephone company said the problems were limited to its wireline business and that its mobile network held up well and would report a good quarter. After a two-week strike in August that involved about half of Verizon's wireline workers, creating a backlog of work, Hurricane Irene and Tropical Storm Lee hit, increasing the repair load for the company's wireline network. The company estimates that the financial impact of all these issues was in a range of $200 million to $250 million. About 45,000 Verizon wireline workers went on strike on August 7, and the company drafted thousands of managers working overtime to try to cover for the strikers, who included customer service representatives and technicians. Verizon's mobile venture Verizon Wireless is minority-owned by Vodafone Group Plc (VOD.L). (Reporting by Sinead Carew; Editing by Gary Hill) Technology Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. 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