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I believe it is removing vendors and hiring own in-house team .

Yes

When it ntroduced?

http://www.lightreading.com/5g/amid-flagging-profits-verizon-starts-another-cost-cutting-program/d/d-id/781271

There was an email from Craig announcing VGS, This initiative from what I understand is bring all the service providing groups like sourcong, accounts payble, billing, supply chain, real estate, public policy and other groups done as a single services for every company. I belive each of verizon groups had different teams to do these work and thought this initiative they are bringing under one umbrella.

I am not sure of the imapct, this is effective 1st jan, so lets see what it brings. It looks like a good one to me.

I dont think that will impact your team.

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