Verizon CEO predicts layoffs for Alltel employees

Verizon Wireless CEO Lowell McAdam updated residents of Little Rock, Ark., on Friday about the firm's impending merger with Alltel Communications, which is headquartered there. McAdam said that Little Rock would probably become home to a Verizon Wireless regional headquarters with about 100 employees, which is far less than the current 3,000 employees that Alltel has in the Arkansas town.

While many executive and mid-management level positions at Alltel will vanish because of the proposed merger, McAdam said it would take at least a year or so to determine which positions would be eliminated. And he also said that there may be opportunities for some Alltel employees if they are willing to relocate to other cities where Verizon has openings.

McAdam expects the Verizon/Alltel merger to close by year-end.

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