Verizon to Post Charges of Up to $1.55 Billion in Second Quarter

By Colin Kellaher

Verizon Communications said its second-quarter results will include up to $1.55 billion in charges, including a loss of up to $800 million related to its deal merging its international operations with those of Britain's BT Group.

Verizon on Monday said it has classified the assets of its international wireline connectivity and managed network services business as assets and liabilities held for sale, which will result in an estimated loss of $700 million to $800 million.

The New York company earlier Monday said it plans to form a new joint venture with BT that would serve more than 3,000 enterprise customers in more than 180 countries, allowing both telecom companies to focus more on their domestic businesses.

Verizon, which began laying off 13,000 workers last year in its largest-ever round of layoffs, said it expects to record a severance charge of $350 million to $450 million in the second quarter as a result of continued headcount reduction initiatives.

Verizon said it also expects to post $200 million to $300 million in asset-rationalization charges, mainly related to its decision to end the use of certain real-estate and network assets.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

June 29, 2026 08:25 ET (12:25 GMT)