Verizon will help customers and small businesses disrupted by impact of coronavirus
13 Marzo 2020 - 06:02PM
During this unprecedented period challenging the world’s health and
economy, Verizon announced today, for the next 60 days, it will
waive late fees that any residential or small business customers
incur because of their economic circumstances related to the
coronavirus. In addition, the company will not terminate service to
any residential or small business customers because of their
inability to pay their bills due to disruptions caused by the
coronavirus.
Verizon today signed onto the FCC’s new “Keep Americans
Connected” pledge. Verizon’s new customer commitment will help
ensure connectivity and offer assistance to customers and small
businesses facing challenges from the global
crisis.
“Now more than ever, we need to ensure that our customers, their
families and businesses have the ability to connect to the internet
even if they’re facing financial hardship from the impact of the
coronavirus pandemic,” said Hans Vestberg, Verizon Chairman and
CEO. “We want to ensure that our customers can continue to
use the internet to work, learn, and carry on with their lives as
we all address this collective challenge. We’re confident this
joint effort will help make that happen.”
The company is pledging to use the power of connectivity now to
help keep the nation’s economy moving forward. Equally important,
it’s focused on the future, beyond this current crisis, as
reflected in Verizon’s announcement yesterday that the company is
increasing its capital investment guidance from $17 to $18 billion
to $17.5 to $18.5 billion in 2020.
“Both of these measures are indicative of our company’s
confidence that the nation and the world will emerge from this
current health issue stronger than ever,” said Vestberg. “I’m
asking each of our business units and all of our dedicated
employees to ensure we’re doing everything we can to make sure our
customers stay connected. I also want our company to look beyond
this period, ramp up our network investment, and build and focus on
using the power of 5G to make the nation’s best and most reliable
networks even better.”
Verizon offers its customers a variety of wireless and home
broadband plans, as well as a suite of global IP-network services.
Verizon does not have data caps on its Fios home, 5G Home and DSL
home broadband services, or on its wireline business broadband
services. Most of the company’s wireless customers are on
unlimited wireless plans. Customers who are not are
encouraged to connect to Wi-Fi hotspots whenever available. Wi-Fi
connections do not count against a customer’s data usage.
To date, Verizon has not seen any measurable increase in data
usage on any of its networks.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on
June 30, 2000 and is celebrating its 20th year as one of the
world’s leading providers of technology, communications,
information and entertainment products and services. Headquartered
in New York City and with a presence around the world, Verizon
generated revenues of $131.9 billion in 2019. The company
offers voice, data and video services and solutions on its award
winning networks and platforms, delivering on customers’ demand for
mobility, reliable network connectivity, security and control.
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Forward-looking statements
In this communication we have made forward-looking statements.
These statements are based on our estimates and assumptions and are
subject to risks and uncertainties. Forward-looking statements
include the information concerning our possible or assumed future
results of operations. Forward-looking statements also include
those preceded or followed by the words “anticipates,” “believes,”
“estimates,” “expects,” “hopes” or similar expressions. For those
statements, we claim the protection of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. We undertake no obligation to revise
or publicly release the results of any revision to these
forward-looking statements, except as required by law. Given these
risks and uncertainties, readers are cautioned not to place undue
reliance on such forward-looking statements. The following
important factors, along with those discussed in our filings with
the Securities and Exchange Commission (the “SEC”), could affect
future results and could cause those results to differ materially
from those expressed in the forward-looking statements:
cyber-attacks impacting our networks or systems and any resulting
financial or reputational impact; natural disasters, terrorist
attacks or acts of war or significant litigation and any resulting
financial or reputational impact; disruption of our key suppliers’
or vendors' provisioning of products or services; material adverse
changes in labor matters and any resulting financial or operational
impact; the effects of competition in the markets in which we
operate; failure to take advantage of developments in technology
and address changes in consumer demand; performance issues or
delays in the deployment of our 5G network resulting in significant
costs or a reduction in the anticipated benefits of the enhancement
to our networks; the inability to implement our business strategy;
adverse conditions in the U.S. and international economies; changes
in the regulatory environment in which we operate, including any
increase in restrictions on our ability to operate our networks;
our high level of indebtedness; an adverse change in the ratings
afforded our debt securities by nationally accredited ratings
organizations or adverse conditions in the credit markets affecting
the cost, including interest rates, and/or availability of further
financing; significant increases in benefit plan costs or lower
investment returns on plan assets; changes in tax laws or treaties,
or in their interpretation; and changes in accounting assumptions
that regulatory agencies, including the SEC, may require or that
result from changes in the accounting rules or their application,
which could result in an impact on earnings.
Media contact:Rich
YoungRichard.j.young@verizon.com 973-943-7209
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