09.15.2009Corporate

For Fifth Straight Year, Hispanic Business Magazine Names Verizon One of the Top Companies for Diversity

Hispanic Business magazine has named Verizon to the publication's 2009 DIVERSITY ELITE 60 list.  It is the fifth consecutive year that Verizon has been named to the annual list.


The September issue of Hispanic Business magazine will feature the list, which is comprised of companies committed to workforce diversity initiatives, marketing strategies and supplier diversity initiatives that benefit the Hispanic community.


The ranking is determined by more than 32 variables that measure a company's commitment to diversity and the Hispanic community, including a company's board membership, senior leadership, recruitment and retention, marketing, and business conducted with Hispanic-owned businesses. Verizon is ranked 11th on this year's list.


"At Verizon, we understand that diversity and inclusion, to be a competitive advantage, must be embraced at all levels of the business and must be woven into the corporate culture," said Magda Yrizarry, vice president for workplace culture, diversity and compliance at Verizon. "We're honored to have our long-standing commitment to diversity recognized by Hispanic Business magazine."


(Note: A video of the opportunities for professional growth at Verizon is available at:  http://www.youtube.com/watch?v=UlGjR1Bm4jw&feature=channel_page.) 


In the Community


In 2008, Verizon spent more than $3.4 billion with diverse suppliers. The Verizon Foundation, the company's philanthropic group, contributed more than $12.7 million in 2008 to programs and organizations that support the Hispanic community.


Last year alone, the Verizon Foundation awarded $680,000 in academic scholarships to 146 Hispanic college students across the country.


And in honor of National Hispanic Heritage Month, which is observed from Sept. 15 through Oct. 15, Verizon Thinkfinity.org, a free educational Web site, will offer a rich collection of free K-12 lesson plans, activities and educational resources to help students celebrate the diverse history and important contributions Latinos have made to American culture. 


A Great Place to Work


In September, BusinessWeek magazine again ranked Verizon 22nd on its list of Best Places to Launch a Career. And earlier this year, for the seventh consecutive year, LATINA Style magazine named Verizon to the publication's Latina Style 50, an annual list of the best companies for Latinas to work for in the U.S.


Other diversity honors earned by Verizon in 2009 include being named to Diversity MBA magazine's list of Best Companies for Diverse Managers and Working Mother magazine's list of Best Companies for Multicultural Women. 


Over the past few years, Verizon's employee development, education and training budget has totaled approximately $1 billion. In 2008 alone, Verizon employees logged more than 11 million training hours to advance their knowledge of a wide range of key issues including compliance, privacy and security; to learn new management techniques; and to develop the skills needed to deliver the nation's most advanced broadband networks to customers.


Also in 2008, the company invested $117 million in the education of its employees through its tuition assistance program, which pays 100 percent of approved tuition and fees, up to $8,000 per employee per year, at accredited institutions.


For more information about Verizon's commitment to diversity, visit the company's press kit on diversity at http://newscenter2.verizon.com/kit/diversity/


Verizon Communications Inc. (NYSE:VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers.  Verizon Wireless operates America's most reliable wireless network, serving more than 87 million customers nationwide.  Verizon's Wireline operations provide converged communications, information and entertainment services over the nation's most advanced fiber-optic network.  Wireline also includes Verizon Business, which delivers innovative and seamless business solutions to customers around the world.  A Dow 30 company, Verizon employs a diverse workforce of more than 235,000 and last year generated consolidated operating revenues of more than $97 billion.  For more information, visit www.verizon.com.


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