Verizon’s internet division will shut down by the year end 2019, the company said on Thursday.
The company said it will close down its telecoms engineering division in March 2019, and will continue to focus on its internet business.
The end of the business will be “as seamless and seamless as possible,” Verizon said in a statement.
The shutdown will be the first for Verizon since the company went public in 2013.
The business has been around for years, with Fleur’s main focus being on telecoms.
Fleur has a presence in India, Indonesia, Australia and the US.
Verizon is also planning to sell the telecoms division, with CEO Lowell McAdam set to leave in 2019.
The telecoms business was the company’s biggest revenue generator in the last fiscal year, Verizon said.
The US company’s net profit in 2019 was $1.8 billion, up 23 percent from the same period last year.
