For the sixth year, Black Enterprise magazine has named Verizon to the publication's list of 40 Best Companies for Diversity.
The elite companies were selected based on their commitment to diversity in four key areas - employee base, senior management representation, supplier diversity and board of directors. Verizon was singled out as one of only four companies to demonstrate significant strength in all four areas. The 40 Best Companies for Diversity list is featured in the July issue of Black Enterprise, now available on newsstands, and on the publication's website.
"Verizon has the privilege of not only employing an extremely diverse workforce, but also serving one of the most diverse customer bases in the country," said Magda Yrizarry, Verizon's chief talent and diversity officer. "Delivering on our promise to put our customers first requires a company culture rich in diversity and defined by inclusion, where people can explore new ideas and bring the latest technologies to market. It's an honor to be recognized by Black Enterprise Magazine for the sixth time."
African-Americans make up about 20 percent of Verizon's workforce and nearly 22 percent of new hires, and hold many leadership positions including chief security officer, president of Verizon Global Wholesale and vice president of human resources for Verizon Wireless, the nation's largest wireless carrier. Verizon has one of the most diverse corporate boards in America. Women and people of color make up 46 percent of Verizon's Board of Directors, and African-Americans constitute nearly one quarter of the board.
Last year, the company's philanthropic arm, the Verizon Foundation, awarded more than $37 million in grants supporting programs and nonprofits that benefited African-American and other ethnic communities.
Verizon's goal in regard to diversity and inclusion is to leverage the diversity of employees, customers, suppliers and community partners to better serve customers and create new and innovative market opportunities. Last year, the company spent $3.8 billion with diverse suppliers.
Other diversity honors earned by Verizon in 2011 include being named to Working Mother magazine's list of Best Companies for Multicultural Women, DiversityInc's 2011 list of Top 50 Companies for Diversity and top-10 placement in Diversity MBA Magazine's Best Places for Diverse Managers to Work list.
Verizon Communications Inc. (NYSE, NASDAQ:VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, with more than 106 million total connections nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries, including all of the Fortune 500. A Dow 30 company, Verizon employs a diverse workforce of nearly 196,000 and last year generated consolidated revenues of $106.6 billion. For more information, visit www.verizon.com.