Verizon Cuts Jobs in Stores as Wireless Growth Slows

(CBS NEWS) Verizon has cut jobs in stores across the country as it deals with increasing competition in the wireless industry.

Union representative Tim Dubnau estimates that Verizon has cut hundreds or even thousands of jobs.

Verizon spokeswoman Kim Ancin said Friday that stores will have fewer employees but refused to specify the size of Thursday’s layoff. She says estimates of thousands of cuts are “an exaggeration.” People who lost their jobs can apply for new positions at Verizon. There are 162,000 U.S. employees.

The layoffs result from Verizon combining the roles of two store positions — inventory stockers and customer-service specialists who answer questions about gadgets and bills.

Revenue growth across the wireless industry has slowed. Most adults already have smartphones and carriers offer discounts.